Azerbaijani A-Group doubles fees on CASCO
Azerbaijan, Baku, Oct.22 /Trend corr. A.Akhundov /
A-Group Azerbaijani insurance company is maintaining a tendency towards premium growth.
The total amount of A-Group's insurance premiums in the first nine months of 2012 amounted to 7.34 million manat, which exceeds the figures for the same period in 2011 by 13 per cent, the company report, published on Monday stated.
'Traditionally, the bulk of A-Group's total income accounts for medical insurance. A significant increase is also observed in vehicle insurance. The total insurance premiums on CASCO have doubled. The volume of insurance premiums for accidents of mortgage borrowers has grown by 33 per cent. Good results were achieved by the company in property insurance', the statement noted.
Insurance payments for the first three quarters totalled to 4.05 million manat.
A-Group was established in 1995. It provides services for 14 types of voluntary insurance. A-Group is the only insurance company selected by the International Finance Corporation (IFC) in the second phase of a pilot programme on the improvement of corporate governance. Earlier this year, the company has once again confirmed its compliance with international quality standard ISO 9001.
The official exchange rate on October 22 is 0,785 AZN / USD.