Standard Insurance Company has become one of three leading Azerbaijan insurance companies on the volume of gathered insurance premiums for the period of time from January to September 2005. So the company has improved its position for one more level from the beginning of this year.

According to the results of the company's work the volume of insurance premiums of Standard Insurance has reached 25,776 billion manats for 9 months of 2005 and it s twice as much as compared with the last year's analogous 9 months period.

19,967 billion manats of insurance premiums were made by direct insurance agreements and 5,808 billion manats were made by reinsurance agreements.

It is the evidence of growing confidence to Standard Insurance Company that over 95% or 24,532 billion manats of insurance premiums are made by voluntary kinds of insurance.
In its turn such confidence is also justified by increasing insurance payments made by Standard Insurance. The company has made payments in the volume of more than 3,754 billion manats for only 3 quarters of the current year. It should be mentioned that Standard Insurance emphasizes systematic raise of its authorized capital stock, which is one of the major mechanisms for successful work of the insurance company.

In April 2005 Standard Insurance increased its authorized capital stock to 10 billion manats and in that way the Company ensured the minimum level of capitalization ordered to insurance companies working in Azerbaijan till January 1, 2010 in advance.
In spite of this fact the company management stated that the company would carry on working on systematic raise of the authorized capital stock. The next raise of the authorized capital stock, which is made by the company profit and funds of founders, should be expected next year.