Azerbaijani Insurance Company Increases Premiums

By Kheyraddin Nasirzade

In the first quarter of 2019, Azerbaijan’s group of insurance companies Ateshgah Insurance Group increased the value of insurance premiums, Trend reports with reference to the financial report of the Group.

Thus, the insurance premiums of Ateshgah Insurance in January-March this year amounted to 10.5 million manats, which is 24.8 percent more compared to the same period last year.

The insurance premiums of Ateshgah Life Insurance for the first quarter of this year amounted to 9.2 million manats.

According to the statement, most part of the insurance premiums in Ateshgah Insurance was carried out at the expense of the compulsory insurance of civil liability of vehicle owners. The premiums on this type of insurance for the reporting period amounted to 3.3 million manats, which is 26 percent more than in the same period last year.

Ateshgah Insurance Group has been operating in Azerbaijan since 1996. Since 2014, it has been a member of the Compulsory Insurance Bureau.