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Russian insurer reveals plans on work in Azerbaijan

Business Materials 21 November 2012 19:14 (UTC +04:00)

Azerbaijan, Baku, Nov. 21 / Trend J.Nasibova /

Within operations in Azerbaijan Russian insurance company Soglasie is planning to conclude policies worth about $350.000 in the first half of 2013.

This was said at a news conference on Wednesday by the head of the company in Azerbaijan Emin Aslanov.

In his words, the company has been working in Azerbaijan for half a year, its representative office in Baku was opened two months ago.

The representative office's goals are to develop partnership with the Azerbaijani insurance companies within the reinsurance of risks in Soglasie insurance company. The representative office of Sogasie was registered in the tax agencies of Azerbaijan on June 19.

"We intend to take risks in all of our work directions. Insurance of construction works, marine insurance, cargo insurance, and various types of liability insurance, and some others are interesting for us. The number of aircraft is actively growing in Azerbaijan as well as in Russia. In this regard, we are also interested in aviation insurance," the company's director Elnur Suleymanov said previously.

According to him, in addition to traditional types of insurance, the company offers a new type to the market - the insurance of business (commercial) loans.

Soglasie Insurance Company was established in 1993 and offers over 90 types of insurance and reinsurance services. The company's authorized capital is 4.3 billion rubles ($ 134.8 million). Regional network of the company includes more than 700 departments, working in all federal districts of Russia.

As of the first half of 2012, the volume of insurance premiums collected by Soglasie, was 16.4 billion rubles ($514 million), insurance payments - 8.3 billion rubles ($ 260 million).

The Expert RA rating agency upgraded the company's reliability rating to A + +.'the exceptionally high level of reliability'.

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