Azerbaijani Insurance Company Exceeds Target Over Seven Months

Business Materials 27 August 2007 12:13 (UTC +04:00)

Azerbaijan, Baku / corr Trend U.Ismayilova / MBASK, one of Azerbaijan's biggest companies, has exceeded a collection target for January to July, Jamil Melikov, chairman of the board of MBASK, said.

Over the past seven months MBASK's premiums made up approximately AZN 7mln with claims in the amount of AZM 2.5mln.

Meanwhile, the Azerbaijani Finance Ministry announced that over six months MBASK collected premiums in the amount of AZN 4.46mln with claims of AZN 1.47mln.

MBASK has been operating in the insurance market of Azerbaijan since 1992 and offers 29 types of services, including four obligatory types. The statuary capital of the company is AZN 2mln.

There are 29 insurance companies in the country.