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AzSighorta doubles premiums in 2008

29 January 2009 15:38 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based AzSighorta Insurance Company earned AZN 10.066 million in premiums during 2008, twice as much as a year ago.
Khayal Mammadkhanli, Deputy Chairman of the Company, said payment for insurance claims skyrocketed by 8.7 times to AZN 2.328 million.
AZN 3.7 million came from Cargo Insurance, AZN 3 million from Property Fire Insurance, AZN 1.318 million from Casco Vehicle Insurance, AZN 635 000 from Mandatory Liability Insurance for Motorists, AZN 481 000 from Loan Insurance, AZN 310 000 from Liability Insurance, AZN 90 000 from Medical Insurance, AZN 62 000 from Travel Insurance and AZN 15 000 from Accident Insurance.
Insurance claims came from Property Fire Insurance (AZN 1.230 million), Casco Vehicle Insurance (AZN 678 000), Loan Insurance (AZN 326 000), Agricultural Risk Insurance (AZN 40 000), Cargo Insurance (AZN 24 000), Mandatory Liability Insurance for Motorists (AZN 84 000) and Medical Insurance (AZN 34 000).
The companyâ€™s profit is expected to reach AZN 3 million for 2008 after calculation.
AzSighorta has been in operation since December, 2006.
AzSighorta provides 25 voluntary and 3 mandatory types of insurance.
As of January 1, its authorized capital stood at AZN 2 million.