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AIG Caspian sees a 9-fold decline in insurance claims during 2008

AIG Caspian sees a 9-fold decline in insurance claims during 2008

12 January 2009 15:12 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. American International Group Caspian Insurance Company (AIG Caspian), a US-Azeri Joint Venture, earned AZN 1.625 million in premiums during 2008, a 21.4% decline on a year ago.
The company paid AZN 177 311 for insurance claims, up 9.4 times on a year earlier.
Its profit declined 40% to AZN 96 000.
AIG Caspian provides only voluntary types of insurance services in Azerbaijan.
Owned by Caravan Investment (51%) and American International Group Inc. (49%), AIG Caspian has been operation since 1999. As of January 1, its share capital reached AZN 3.5 million. The insurer provides 7 voluntary types of insurance services.

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