Standard Insurance gets a decline in financials

Standard Insurance gets a decline in financials
# 26 December 2008 10:33 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Standard Insurance plans to earn AZN 13.9 million in premiums at the 2008 year-end, down 1.4% on a year ago.
Fuad Guliyev, Deputy Chairman of the company, said payments for insurance claims is predicted to rise 40% to AZN 4 million at the year-end.
According to him, the profit is expected to decline twofold to AZN 1.5 million.
Standard Insurance, owned by AB Standard Group, has been in operation since 2002.
As of October 1, its share capital was AZN 8 million.
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