Baku, Azerbaijan, Oct. 24
By Anvar Mammadov – Trend:
Ateshgah Insurance, the Azerbaijani insurance company, doesn’t intend to change its development strategy, Azer Aliyev, the newly appointed chairman of the bank’s board, said in an interview with Trend.
He said that the strategic development plan of the insurance company was adopted even before his appointment, and no changes will be made to it.
“The company adopted development strategy for three years (2016-2018),” he noted. “Its main points are achieving sales targets and ensuring certain profitability, full implementation of corporate management system in both our insurance companies, as well as compliance not only with the standards approved in the insurance market of Azerbaijan, but also with the level of international insurance companies.”
Commenting on the execution of the strategic development plan, he noted that the plan is being implemented quite successfully.
He said that over the past nine months, plans regarding insurance premiums as a whole were executed by approximately 90 percent. He added that the forecast of the insurance group regarding the insurance premium at the end of the year is 60 million manats.
“Insurance premiums of Ateshgah Insurance for the nine months amounted to 27.86 million manats, while insurance premiums of Ateshgah Life amounted to 25.87 million manats,” he added. “During the reporting period, the insurance company collected insurance premiums worth 53.73 million manats, and our payments amounted to 50.23 million manats - Ateshgah Life made payments worth 38.56 million manats, and Ateshgah Insurance made payments worth 11.66 million manats.”
He noted that over the past few years the company’s activity has changed dramatically in a positive way. In particular, the number of employees has increased, the company has become more high-tech, he added.
Ateshgah Insurance company was founded in 1996.