Baku. 12 October. REPORT.AZ/ The only company in Azerbaijan engaged in insurance of airplanes Silkway Insurance OJSC declared its collections and payments during 9 months.
According to information provided to Report in the company, collections during January-September of this year totaled AZN 18 266 210 which is 11.87 percent higher comparing to the same period of 2015.
However, Silkway Insurance’s expenditures increased in reporting period. Thus, during nine months the company paid AZN 2 219 595 to its clients which is 55.76 percent higher than same period of 2015.
The reason of this visible increase is payment made by company last month for An-12 airplane of Silkway Airlines crashed in Afghanistan on May 18. So that the company made AZN 1 1950 595 payment only in September majority of which went to SIlkway Airlines.
Notably, Silkway Insurance paid AZN 200 thousand for the same airplane in July. Thus total payment made to Silkway Airlines was 2.15 mln. AZN.
Insurance payment for above mentioned airplane changed company’s collection to payment ratio. According to latest figures, the company returned AZN 12,15 for each AZN 100 collected from clients while in 2015 this figure was 0.24 percent.