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Silk Way Insurance gets 10% rise in premiums

28 September 2012 15:27 (UTC +04:00)

Baku. Elnur Huseynguliyev â€“ APA-Economics. Amount of the premiums of the Azerbaijani Silk Way Insurance in January-August, 2012 made AZN 7,365 mln, this figure is higher by 9,1% than the indicator of previous year.

The head office of the company told APA-Economics that during the reporting year, AZN 3,677 mln was collected on â€œInsurance of air transport, AZN 2,425 mln - â€œLiability insurance of air transportâ€, AZN 566,861 thousands - â€œproperty insurance against fire and other risksâ€, AZN 180,592 thousands - â€œCompulsory insurance of immovable propertyâ€, AZN 128,204 thousands â€“ â€œMotor insuranceâ€, AZN 114,362 thousands - â€œMandatory individual insurance of passengersâ€, AZN 98,215 thousands â€“ â€œInsurance of general liabilityâ€, AZN 90,705 thousands â€“ â€œCivil liability insurance of vehicle ownersâ€, AZN 23,118 thousands - â€œInsurance of individual accidents and diseasesâ€, AZN 20,91 thousands â€œCargo insuranceâ€ and AZN 13,663 mln â€“ â€œMedical Insuranceâ€.

With regard to payments for insurance claims, the volume decreased by 38.5% to AZN 1.762 mln. In the structure of pay the largest amount of funds disbursed under the â€œLiability insurance of air transportâ€ (AZN 1.190 mln), "Insurance of air transport" (AZN 547.422 thousands), â€œmotor insuranceâ€ (AZN 22.308 thousands), â€œInsurance civil liability of owners of motor vehiclesâ€ (AZN 2.640 thousands).

During the reporting period the amount of insurance payments on voluntary types made AZN 6.956 mln and types of compulsory insurance AZN 408.129 thousands. AZN 1.760 mln were paid for voluntary insurance, AZN 2.640 thousands fot types of compulsory insurance.

Silk Way Insurance OJSC was established in 1995 as AZAL Insurance and in July, 2011, it was renamed to Silk Way Insurance OJSC. At present the company is functioning on 25 types of voluntary and 5 types of compulsory insurance. The authorized capital of he company is AZN 12.093 mln.