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Azerbaijani Insurance Company "Atasığorta" strengthens its positions

Business Materials 13 February 2014 12:17
In 2013, the Azerbaijani insurance company "Atasığorta" has strengthened its positions in the market.

Baku, Azerbaijan, Feb. 13

Trend - Abbas Akhundov

In 2013, the Azerbaijani insurance company "Atasığorta" has strengthened its positions in the market. The share of the company is 3.2 percent versus 3 percent in 2012, chair of the company's management Museib Aliyev said.

According to Aliyev, in 2013, the company collected funds in the amount of 12.6 million manats, which is 16 percent higher than in 2012, payments exceeded three million manats (10 percent growth).

In 2013, the shares of the company increased by 32 percent exceeding 20 million manats.

"Currently, the company holds insurance reserves in the amount of 11 million manats, which is 36 percent higher than in 2012. The investment portfolio reached 16 million manats increasing by 34 percent in comparison with 2012. The investment portfolio is being formed for securities and deposits in banks. In 2013, the revenues were 14.6 million, expenditures - 13. 3 million manats. We completed 2013 with net at a range of 1.3 million manats," Aliyev said.

According to Aliyev, in 2013, all the main budget projections of the company were exceeded.

The company has been operating in the insurance market since 2004, carrying out activities on 22 types of voluntary and four types of compulsory insurance. AtaSığorta is the founder and member of Compulsory Insurance Bureau. The company has four branches and four representative offices.

The official exchange rate on Feb. 13 is 0.7844 AZN/USD.

Translated by R.A.

Edited by C.N.

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