QALA Insurance has announced ambitious plans for 2019

29 November 2018 — Daniela GHETU
Azerbaijani QALA Insurance plans to collect AZN 16 million in premiums by the end of 2018, which would mean a 54.1% y-o-y growth, Deputy Chairman of the company Taleh YUSIFOV said recently, quoted by Trend.

To achieve this goal, the company should add to the AZN 13 million reported for the first eleven months some AZN 3 million in December, thus significantly increase the growth pace recorded up to this moment throughout the year.

YUSIFOV also said that the company targets in 2019 a GWP amount of AZN 18 million, planning to open several representative offices in the economic zones of Azerbaijan in 2019. In 2018, representative offices were opened in Lankaran, Ganja, Sumgait, Tovuz and a representative office is also expected to open in Imishli. Next year will also bring many novelties on operational ground, as after years of work on the digitalization system, the company aims to increase efficiency and serve its customers in a more effective manner. For example, one of the goals is to to respond to insurance claims no later than in three days.

QALA Insurance, currently owned by Az Re, was part of the AIG Group until 2015, operating under the name of Chartis Azerbaijan. In 2017, the company wrote gross premiums worth AZN 10.9 million.

(1 USD = 1.7 AZN on Nov. 27)

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