Azerbaijani-Turkish insurance company plans to increase premiums in 2014
Baku, Azerbaijan, Jan. 30
By Abbas Akhundov - Trend:
Azerbaijani-Turkish insurance company Bashak İnam Sigorta plans to collect premiums in the amount of 607 million manat in 2014, chairman of the company board Orkhan Hasanov told Trend on Jan.30.
The company's premiums totaled 4.14 million manat, and the payments amounted to 1.78 million manat in 2013, according to the State Insurance Supervision Service under the Azerbaijani Finance Ministry. The company ranks 21st and 17th for the volume of premiums and payments, respectively. Some 28 insurance companies operate in Azerbaijan.
The agricultural insurance will remain the priority in the company's activity, according to Hasanov.
Currently, the major part of the company's portfolio is formed with the voluntary automobile insurance, as well as the types of property insurance. A similar situation will also be observed in 2014, according to Hasanov.
Bashak-İnam Sigorta Shirketi has operated in the country's insurance market since 1996. Around 19.95 percent of the company's shares are owned by Zamin bank, some 48 percent falls to individuals, Groupama Sigorta A.Ş. (Turkish subsidiary of Europe's largest insurance company Groupama) - 17 percent, Turanbank - 8.5 percent, AzerTürkBank - six percent, non-bank credit organization Aqrarkredit - less than one percent.
The official exchange rate on Jan.30 is 0.7842 AZN/USD.
Translated by L.Z.
Edited by C.N.