Finance

Finance

Chartis Azerbaijan insurance company increases revenues by 2% year-on-year

14 March 2012 07:50 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. The volume of insurance premiums collected by Chartis Azerbaijan insurance company (former â€œAIG Caspianâ€) during January-February, 2012, amounted to AZN 417.021 thousand, up 1.7% compared to 2011.

Director of FinDepartment Elmar Islam told APA that during the first 2 months this year, 40% of total collections fell on share of â€œProfessional liability insuranceâ€ (AZN 164.900 thousand), 36% on â€œProperty insurance against fire and other risksâ€ (AZN 150.907 thousand), â€œCargo insuranceâ€ (AZN 61.615 thousand), 7.5% on â€œLiability insuranceâ€ (AZN 31.335 thousand), and 15% on other insurance types.

As to payments, the company did not carry put any payment in January-February. Note that, as the report has been prepared on the basis of urgent information, the volume of profit or loss had not been specified.

Remind that, since 1999, Chartis Azerbaijan operated as AIG Caspian, in November 2010, it changed the brand. As of March 1, 2012, the companyâ€™s authorized capital made AZN 6.787 mln.