OREANDA-NEWS. November 11, 2010. Azerbaijani insurer has announced a phenomenal (by 125%) increase in revenues against the background of general decline of the market by 15% over the past three quarters of 2010.

Yesterday, Khayal Mammadkhanli, the chairman of the Board of Directors of domestic insurance company Alfa Sigorta, stated that as of 1 November their premiums amounted to nearly 1.9 million manats against over 800,000 manats a year earlier.

"This is a positive and optimistic figure. According to our estimates, revenues are going to exceed 2 million mantas following 2010," Mammadkhanli said.

At that, Company’s profit is about 500,000 manats.