OREANDA-NEWS. July 07, 2011. Azerbaijani insurance company AzSigorta intends to bring premiums up to 17-18 million manat until the end of 2011.

Company’s chairman of board Abbas Babaev has claimed that premium growth of 12% will be provided by the end of 2011 against the 2010 same term.

"AzSigorta’s premiums amounted to 15.6 million manat last year and will be brought up to 17-18 million manat this year. The growth will be achieved mainly by attracting new customers and growth in motor, cargo and property insurance. According to primary data, Company’s premiums for Jan-Jun 2011 exceeded the ones for Jan-Jun 2010, and if this pace keeps, we’ll achieve 17-18 million manat of forecasts," he said.

According to Babayev, in order to ensure the growth, the Company is also developing in the summer period the new products on motor and property insurance to be presented in September.

Babayev added that AzSigorta had also increased recently its registered capital up to 9.5 million manat, and this is not the limit, as charter capital will be increased again at the expense of profits for 2011 which is expected to be 5-6 million manat.