Bank Of Baku

Standard Insurance’s premium collection climbs 36%

Standard Insurance’s premium collection climbs 36%
# 27 February 2007 14:33 (UTC +04:00)
Standard Insurance increased the total collection of premiums 36% during 2006 to AZN 8.34m.
Marketing Officer Nargiz Agayeva told APA-Economics that collections from voluntary motor insurance jumped 36%, year-over-year, to AZN 3.81m and property insurance collections rose 30% to AZN 2.34m.
Standard Insurance’s insurance payment rose 82% to AZN 2,004,472 and accounted for 24% of the collected premiums.
Established by the AB Standard Group of Companies in October, 2002, Standard Insurance’s nominal capital reached AZN 4m.
It provides 4 compulsory and 20 voluntary insurance services at present.
Standard Insurance is a pilot for motor insurance and the third for its authorized capital in Azerbaijan. /APA/
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