Azerbaijani insurance company reduces payments, fees (UPDATE)
Details added (first version published at 12:36)
Baku, Azerbaijan, June 11
By Anvar Mammadov - Trend:
Azerbaijani insurance company Qala Life has reduced fees and payments, deputy chairman of the Board of the insurance company, Natig Hasanov, told reporters June 11.
He noted that the company's fees in January-May 2018 amounted to 6.44 million manats and its payments stood at 8.68 million manats.
Compared to the same period last year, the company's fees decreased by 12.6 percent and payments dropped by 4.2 percent.
"The main part of the collected insurance premiums fell on the fees from death insurance, endowment insurance and compulsory insurance against accidents at work and occupational diseases. As for the payments, 8.44 million manats fell on payments for endowment insurance, 173,000 manats on compulsory social insurance against industrial accidents and occupational diseases, and 69,700 manats on death insurance," Hasanov said.
Qala Life, which started its activity in 2010, is one of the three companies in Azerbaijan that provide life insurance services.
(1.7 AZN = 1 USD on June 11)
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