Azerbaijani insurance company plans to increase collections by one third in 2014
Baku, Azerbaijan, Jan. 9
By Abbas Akhundov - Trend:
Azerbaijani insurance company Buta Sigorta plans to increase collections by one third in 2014, the company's chairman Abbas Babayev told Trend on Jan. 9.
He said that in late 2013 the company collected 7.5 million manats. In 2014 the collections are forecasted to reach 10 million manats.
"Today, 60-65 percent of the company's portfolio is formed by voluntary car insurance, 10-15 percent - health insurance, 10-15 percent - voluntary property insurance," Babayev said.
He went on to say that Buta Sigorta plans to further develop these types of insurance in 2014.
Buta Sigorta shareholders include Bank of Baku, Baku Electronics, Baku Service Company, Auto Azerbaijan and Qafqaz Lizinq, which own 19 percent interest each and NAB Holding with a five percent interest.
The official exchange rate on Jan. 9 is 0.7844 AZN/USD.
Translated by E.A.