Bank Of Baku

Gunay Sigorta sees 57% decline in premiums

Gunay Sigorta sees 57% decline in premiums
# 08 October 2010 13:46 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based insurance company Gunay Sigorta earned $ 576.361 thousand in premiums in January-September, 2010, down 57% from a year ago.

Company said it paid AZN 119.085 thousand for insurance risk during this period, down 19.4%.

Most of premiums came from Property Insurance (AZN 356.631 thousand or 62%) and Casco Insurance (AZN 147.109 thousand or 26%).

Payment went to Property insurance (AZN 77.912 thousand or 65%) and Casco insurance (AZN 22.895 thousand or 19.2%).

Loss and profit made AZN 23.560 thousand and AZN 138.257 thousand.

The company has been in operation since 1992. It provides 2 mandatory and 18 voluntary types of insurance services. The company is owned by Gunay Bank (34.62%) and two individuals (65.38%).
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