International Insurance Company increases Q1 revenues by 12%

International Insurance Company increases Q1 revenues by 12%
# 29 April 2011 07:49 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. In January-March, 2011, Azerbaijan’s International Insurance Company’s total volume of premiums made AZN 3.026 mln, up 12% compared to a year ago.

IIC told APA that, payments on insurance risks increased by 23.4% to AZN 1.382 mln.

The company gathered AZN 2.821 mln of insurance premium on types of voluntary insurance, AZN 205.213 mln on compulsory insurance types.

The most insurance premium in structure of revenues have been gathered on “Medical insurance” (AZN 1.572 mln), “Motor vehicle insurance” (AZN 914.772 mln) and “Compulsory insurance against fire” (AZN 106.399 mln). These types made 52%, 30% and 3.5% in total insurance premiums.

As of structure of payments, payment was realized at amount of AZN 1.365 mln on voluntary insurance type, AZN 17.331 mln on compulsory insurance type.

The most funds were paid on “Medical insurance” (AZN 748.407 mln), “Motor vehicle insurance” (AZN 572.143 mln)

Remind that, International Insurance Company was established in 2002 by Azerbaijan International Bank. The company operates on 37 insurance types.
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