A-Group: Medical insurance market in Azerbaijan to show significant growth in 2019

Finance Materials 15 November 2018 10:54 (UTC +04:00)

Baku, Azerbaijan, Nov. 15

By Taleh Mursagulov - Trend:

The Azerbaijani insurance company A-Group Insurance expects a significant increase in voluntary medical insurance, as well as voluntary automobile insurance (comprehensive and collision car insurance - CASCO) in 2019, the Chairman of the Board of the insurance company A-Group Insurance, Anar Bayramov told Trend.

He said the A-Group Insurance company, like any other business, is focused on development, and in 2018, the company has showed a significant increase in the collection of insurance premiums under comprehensive and collision car insurance and medical insurance.

"In 2018, the number of our corporate clients has increased significantly, and the number of insured people under medical insurance has increased by several thousand people," Bayramov said.

The head of the insurance company noted that the company plans to maintain the pace of this growth in 2019 as well.

According to the data of the Financial Markets Supervision Chamber of Azerbaijan, in January-September 2018, the A-Group Insurance company’s insurance service charges amounted to 4.677 million manats, which is 38.19 percent more compared to the same period last year.

In the reporting period, the volume of insurance payouts of the insurance company amounted to 5.695 million manats, which is 0.18 percent more than the previous figure.


Follow the author on Twitter: @TalehMursagulov