Finance

Finance

AXA MBASK Company increases market share

16 January 2012 13:15 (UTC +04:00)

Baku. ELnur Huseynguluyev â€“ APA-Economics. AXA-MBASK Company collected AZN 12.725 mln insurance premium in 2011, up 52% from year earlier.

Company says most of premiums came from Vehicle insurance (AZN 7.347 mln), Property fire and other risks insurance (AZN 2.463 mln), Health Insurance (AZN 710,597,000) and Cargo insurance (AZN 625,952,000).

Charges on voluntary insurance types increased by 49.5% to AZN 12.386 mln, on compulsory insurance types â€“ by 3.3 times to AZN 338,826,000.

Payments on insurance risks decreased by 8.2% to AZN 3.244 mln. Most of payments went to Health Insurance (AZN 518,927,000), compulsory insurance of vehicle ownersâ€™ civil responsibility (AZN 52,092,000). Payments on voluntary insurance types dropped 9.6% to AZN 3.137 mln, on compulsory insurance types soared 68% to AZN 107,006,000.

Note that, market share made 6%, up 0.6 percentage points from year earlier.

Remind that, AXA MBASK has been in operation since 1992. The company operates 29 insurance types.