Bank Of Baku

New life insurance to be established in Azerbaijan, next year

New life insurance to be established in Azerbaijan, next year
# 28 December 2010 09:22 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. State insurance commercial company Azersigorta intends to establish specialized company on life insurance, in 2011, Deputy Chairman of Board of Directors Aftandil Hajiyev told APA.

According to him, the time given by state to the insurance companies for specialization on life and non-life insurance will be over in March, 2011. That’s why Azersigorta’s contracts on life insurance signed with customers will be finished in March: “In general, total premium of the company on life insurance, during 12 months, made over AZN 10 000. Insurance payment on this types made AZN 190 000”.

He also noted that, Along with voluntary insurance types, the company will operate on Compulsory Insurance against Industrial Accidents & Occupational Diseases insurance type, as well.

Remind that, Azersigorta has been in existence since 1991. The company operates 10 compulsory and 20 voluntary insurance types.
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