Azerbaijan, Baku, July 21 /Trend A.Akhundov/
Azerbaijani Standard Insurance has collected premiums amounting to 4.877 million manat through the compulsory insurance of liability of owners of motor vehicles (CTP), which represents 43.8 percent of all charges, the company said.
In general, the company charges are higher in January-June compared to the same period last year. They are doubled and amounted to 11.132 million manat.
The company is one of the founders of the Bureau for compulsory insurance, established in accordance with the requirements of the new law On compulsory types of insurance. The law regulates four types of compulsory insurance - real estate, liability of owners of vehicles, passenger insurance and liability insurance while touching on real estate. Insurance companies started using the law since December 16, 2011. Standard Insurance is authorized to work in all these species, except for compulsory insurance of passengers.
The company collected 342.82 manat and 9.21 manat through insurance of immovable property and liability in the operation of real estate respectively. In general, the charges through compulsory insurance amounted to 5.229 million manat (46.97 percent of all charges).
The company has collected 4.425 million manat through types of property insurance, including property insurance against fire and other risks of 2.18 million manat, insurance of vehicles - 2.05 million manat. The charges through liability insurance amounted to 430.3 thousand manat in January-June, and through types of personal insurance - 1.048 million manat, of which health insurance - 893.27 manat.
The company paid compensation amounting to 1.79 million manat during the reporting period, which is 55.65 percent more compared to the same period last year. Most of all payments accounts for a voluntary insurance of motor vehicles - 923.65 manat.
One of the largest insurance companies in Azerbaijan, Standard Insurance is on the market since 2002.
Official exchange rate on July 21 is 0.7857 AZN/USD