Bank Of Baku

Baku Sigorta intends to increase premiums by 50%, this year

Baku Sigorta intends to increase premiums by 50%, this year
# 03 February 2011 11:18 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Baku Sigorta Company forecasts to increase the premiums by 50% to AZN 4 mln, in 2011, Deputy Chairman of Company’s Board of Directors Mehman Aliyev told APA.

According to him, 30% of insurance premiums forecasted to come from private insurance, 70% from corporate customers: “Most of premiums will come from Vehicle insurance and Property insurance”.

He also noted that, the company plans to direct all the premiums (AZN 1.5 mln) ton capitalization. Thus, the authorized capital is planned to be increased by 33% to AZN 6 mln.

Baku Sigorta has been in operation since 2007.
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