Azerbaijan, Baku, Dec. 21 / Trend U.Ismayilova /
Azerbaijani insurance company MBASK plans to increase premiums by 8 million manat till the end of 2009, the Company Chairman Jamil Malikov said
According to Malikov, the company is expected to increase the profit by two million manat in connection with the annual results. Funds will be spent to increase MBASK's capitalization
"At present, we, like many others on the market, fail to meet the forecasts [on fees] and even were short of it," Malikov added
The company does not expect significant changes both in the development of the company and the market, regarding the forecasts for next year, Malikov said
"In 2010, the country's insurance market will be as complicated as this year," Malikov said
MBASK functions on the Azerbaijani insurance market since 1992, and offers 29 types of insurance services, four of which are mandatory. Since January 2005, the European Bank for Reconstruction and Development has acquired MBASK's 30 percent of shares. Company's premiums for January to October amounted to 5.8 million manat and payments 4.39 million manat.
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