Bank Of Baku

Qaran Sigorta increases insurance payments by 42%

Qaran Sigorta increases insurance payments by 42%
# 29 July 2011 12:09 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Azerbaijan-based Qarant Sigorta has implemented AZN 610,515 insurance payments, during first half of this year, up 42% from year earlier, said the Deputy Chairman of Board of Directors Fuad Allahverdiyev.

According to him, the insurance premiums made AZ 3 mln, during the same period. Company’s payments on compulsory types approximately doubled. Growth on voluntary types made 40%.

He also noted that, AZN 448,922 of insurance premiums came from compulsory insurance types, up 17% from 2010: “The charges on voluntary types remained unchanged at AZN 2.5 mln”.

Besides, the company has increased the budget payments by 248% and transferred AZN 220,000 to te state budget.

Note that, Qarant Sigorta has been in operation since 2008. Authorized capital stood at AZN 4 mln.
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