"Azer-Asia" Joint Insurance Company was founded May in 1997 and
passed through the official State Registration in the Ministry of Justice and
took a legal entity status. The company began it's activity after taking the License
with number 0033 DSN-L from the State Insurance supervision
at the Cabinet of Ministry. The founders of "Azer-Asia" Insurance company
is Azerbaijan Republic State Commercial Insurance company "Azersigorta"
and "Asia" Insurance company, Islamic Republic of Iran.
The shares was defended as 51%-49% for each company.
From the beginning the company has dynamic activity and gained success.
There are the insurance types of activity in the Azerbaijan Insurance
market in the activity sphere of the company.
Insurance civil responsibility of legal and physical entities to each other and to
the third persons.
- Civil liability insurance of duty of contracts;
- Civil liability insurance of employer before his employees;
- Insurance of the equipment which is selling by deferment ;
- Civil liability insurance of legal and physical persons who is taking building works;
- Obligatory insurance responsibility of car remedy owner
- CASCO insurance of vehicles
- Property insurance of legal and physical entities
- CARGO insurance
- Annual life insurance
- Reward life insurance
- Medical insurance of citizens who is going abroad
- Group and personal insurance of passengers from accidents
- Accident insurance of workers of legal persons
- Insurance of babies and school children
- Insurance of acute surgical operations
- Accident insurance of citizens who is going abroad as a tourists
At present time there are 54 Insurance Companies ( nine of them are present
foreign investment ), 2 Insurance broker companies in Azerbaijan.
The sphere of Insurance market below of minimum level. Therefor, it is
4625 manat premium every each citizens of Azerbaijan for during two
quarters of 2000, as personally insurance 15 composing about 0,5%, fire insurance
about 2,06%, medical insurance 1,04%. Since greeting insurance market
during 8 years, it is rather progressed, market had already formatted.
"Azer-Asia" Insurance Company one of the great Insurance Company for the
volume of the chapter capital. The mean type of insurance of our Company
is the civil responsibility insurance of legal and physical entities to each other
and before third persons. At the present time our Company release
very successfully on this type insurance. In this type insurance is very important
that's why board of our company release it according with the situation
of market economy.
"Azer-Asia" Insurance Company at the same time releases the reinsurance activity
and great relations with the some of great Companies of the world.
Our company the only Insurance company which is receiving the reinsurance risks
from the foreign Insurance company of the world in Azerbaijan Republic.
The successfully activity of our company directly depends on the of our
collaborator's insurance specialists.