Azerbaijani insurer predicts decrease in premiums in 2013

Business Materials 1 July 2013 15:59 (UTC +04:00)

Azerbaijan, Baku, July 1 / Trend A.Akhundov /

Azerbaijani insurance company A-Qroup plans to collect premiums to the sum of 10 million manat in 2013, chairman of the company's board Anar Bayramov told Trend.

According to the State Insurance Supervision Service under the Ministry of Finance, the company collected premiums to the sum of 13.94 million manat in 2012 and 3.2 million manat in January-May 2013.

About 80 per cent of the premiums collected by the company relate to health insurance.

The A-Qroup Insurance Company was established in 1995. It renders services under 14 types of voluntary insurance. It is the only insurance company selected by the International Finance Corporation (IFC) in the second phase of a pilot programme to improve corporate governance. Earlier this year, the company's compliance with international quality standard ISO 9001 was once again confirmed.

The official exchange rate on July 1 is 0.7845 AZN / USD.