Bank Of Baku

PASHA Life increases receipts sharply

PASHA Life increases receipts sharply
# 09 December 2011 11:19 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Pasha Life has increased the insurance premiums by 15.4 times to AZN 7.7 mln during January-November, 2011. Insurance payments made AZN 87,000, said the deputy chairman of Board of directors Niyazi Ismayilov.

He says AZN 6.545 mln (85%) came from compulsory insurance against losing ability to work as a result of industrial accidents and professional diseases, AZN 616,000 (8%) from voluntary life insurance of person taking credit from bank, AZN 539,000 (7%) living insurance.

He also noted that, all insurance payments went to Compulsory insurance against losing ability to work as a result of industrial accidents and professional diseases.

Note that, Pasha Life was registered on November 24, 2010, and obtained license on February 14, 2011. As of December 1, 2011, the authorized capital made AZN 7 mln.
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