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Pasha Life Insurance gets 7 times growth in quarterly receipts

19 April 2013 12:09 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Azerbaijan–based Pasha Life Insurance’s premium during the first quarter of 2013 made AZN 8.352 mln, up 7 times from previous year.

Share of compulsory insurance reached 45%, voluntary insurance – 55%. The portfolio was mainly formed by living insurance, compulsory insurance against disability as a result of industrial accidents and occupational diseases, life insurance of borrower and insurance against critic diseases.

Besides, the company has done payment in amount of AZN 148,000 for insurance risks, up 53% from a year ago. Of this, AZN 142,000 went to compulsory insurance against disability as a result of industrial accidents and occupational diseases, AZN 6,000 – voluntary life insurance types. Share of company for payments made 0.6%.

Note that Pasha Life Insurance was registered in November, 2010 and obtained insuring license in February, 2011. As of April 1, 2013, the authorized capital stood at AZN 15.050 mln.