Insurance Company

History of establish SICC "AZERSIGORTA"

Azerbaijan had representatives of various insurance societies and companies of Russia, Germany, England and other states function before the October Revolution in 1917 which was became a member of the Russian Empire.

Azerbaijan Democratic Republic, which was proclaimed independent on 28th May in 1918, and was overthrow on 28th April, 1920 by armies of 11 Red Army Bolshevik of Russia which occupied the young Republic. Azerbaijan was proclaimed the Soviet Socialist Republic and in 1920 was included in consisting of Caucasian Federation of USSR.

For provide of the property and financial cover in Government enterprises sector, in 1921 was decided to establish the Authority of State Insurance under the Public Commissariat of the Finance USSR.

The State Insurance system had providing the creation of the great net of branches and representatives on allover territory of the USSR.

At same moment in the Azerbaijan Soviet Socialist Republic was established the local State Insurance Authority, which after several years of persistent work with the large territorial scope and reliable state guarantee of claims, has left on advanced positions among local private insurance societies created in the period of NEP (New Economic Policy).

All State Insurance Organizations of USSR had a wide net of branches in all regions, areas, large cities and in the regional centers of allied and republican submission.

State Insurance Organization of Azerbaijan SSR had 80 branches in all areas of Republic, including 11 Agencies in districts of Baku.

The State Insurance Organization of USSR had broke-up after disintegration of USSR in 1991, and was formed the Independent Azerbaijan Republic with new State Insurance Organs in the reformed States of former USSR.

The State Insurance Company "AZERSIGORTA" was establish in 1992, on the basis of the former State Insurance Organization. And at same moment has 80 insurance agencies in all regions of Republic, which are connected with the Head Office of the Company with the aid of computer, teletype and telephone communications. The staff of this Company completes more than 700 workers, and 500 of them are the regular personnel and 200 others are the not regular employers.

The strong competition in Azerbaijan Insurance Market which including more 40 insurance companies, Joint-Stocks and representatives of the foreign companies and brokers groups are requires constant perfection of a spectrum for offer insurance services as in quantity and in quality.

And today "AZERSIGORTA" the State Insurance Company of Azerbaijan Republic, is on the first ten group, and is on the second position. It is the famous large and guaranty Company in the local insurance market, which providing in life more of 20 kinds of insurance services, and is the guaranty in property interests of hundreds thousand clients.


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