Bank Of Baku

PASHA Life Insurance gathers AZN 4.3 mln on new type of compulsory insurance

PASHA Life Insurance gathers AZN 4.3 mln on new type of compulsory insurance
# 23 May 2011 08:45 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. Till May 1, 2011, Azerbaijan’s Pasha Life Insurance gathered over AZN 4.3 mln insurance premium on compulsory insured persons from the situations of losing of labor ability at the result of industrial accidents and occupational diseases, deputy head of board of directors Niyaz Ismayilov told APA.

To him, the company started its activity in February of this year and signed more than 220 contracts with institutions and organizations on this type of insurance.

Ismayilov said that volume of total insurance premium was more than AZN 4.5 mln. Its share in total revenues made 96%. Other part of funds was spent to “Life insurance of important persons” and “Life insurance of borrower”.

Note that, Pasha Life Insurance was registered on November 24, 2010. Authorized capital of the company made AZN 7 mln on March 1, 2011.
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