OREANDA-NEWS.  January 27, 2012. One of the three life insurance companies at Azerbaijani market, Atesgah Heyat has exceeded the forecast target for market share by 12%.

The company reports that following 2011 the company’s receipts made AZN 9.524 million and expenditures AZN 1.6 million. Total volume of receipts on life insurance last year made AZN 22.552 million and expenditures- AZN 470.000. Thus specific weight of the company at the life insurance market made 42.23% versus 30% forecasted for early 2011.

The report from the company says that its revenues on voluntary types of insurance (death and life insurance cases) amounted to AZN 3.163 million and compulsory (insurance against industrial accidents) - AZN 6.36 million.

According to Finance Ministry of Azerbaijan the country’s life insurance market made 10.5% of total volume of the company’s revenues following 2011. Total premiums on life insurance made AZN 22.552 million (compulsory insurance against industrial accidents- AZN 18.9 million) and expenditures- AZN 470.014( AZN 292.384).

Only 3 life insurance companies operate at the country’s insurance market- Atesgah Heyat, Qala Heyat and PASHA Heyat.