Bank Of Baku

Garant Sigorta sees 77% growth in premiums

Garant Sigorta sees 77% growth in premiums
# 11 October 2010 14:30 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Garant Sigorta collected AZN 4.209 mln during January-September, 2010, up 77% compared with a year ago, Chairman of Board of Directors Vagif Hasanov told journalists.

According to him AZN 3.667 mln or 87% of total premiums came from voluntary insurance types. 70% of total premiums came from corporate, 30% from private customers.

Payments on insurance risks rose by 5.5 times to AZN 691 000. “Insurance payments will made AZN 1 mln, by the end of this year.”

Paid taxes to state budget increased by 50% compared with a year ago. Payments for State Social Protection Fund rose 80% to AZN 207 000.

Garant Sigorta has been in operation since 2007. The company operates 18 voluntary and 4 compulsory insurance types.
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