News
Thames Insurance Group wins major insurance tender
11-10-2005
Thames Insurance Group has been awarded the insurances, for the reconstruction of Hadjikabul to Kurdemir road part of the "Silk Way".
The tender was organised by the Italian construction company "Todini Construzoni Generali spa", this company will reconstruct 85 km of the Hadjikabul-Kurdemir road. This project is financed in conjunction with "The European Bank of Reconstruction and Development".
Thames Insurance Group is handling all the insurance coverages required by this project. These include:- Contractors All Risks, Plant and Equipment, Third Party and Employers Liability Insurance’s.
Over 5 insurance companies participated in the tender process, Thames Insurance Group prevailed over other companies, due to our competitiveness and professionalism.
Thames Insurance Group was established in May 1996 and is one of the fastest growing insurance company’s in Azerbaijan.
The accordance of the activity of Thames Insurance Group to the International Standards was confirmed.
02-09-2005
Thames Insurance Group continually develops and improves the internal corporate management system. Since the end of the last year the works on confirming of this system at the international scene have been started. As the confirmation of this on 12 August 2005 the certificate CH05/0523 was signed. The Company obtained the certificate of Quality Management System, confirming the accordance of the quality of management system to International Standard ISO 9001:2000. We have to note, that the preparing works for the certification process in the Company began since the end of the last year. SGS the world leader in certification was entrust with performing of certification process. The implementation of this Management System performed by "Medeo Consulting". After some seminars and interviews the specialists came to a conclusion that working process in the Company is in full compliance with the International Standards. As the result the managerial staff successfully passed the interviews and audits.
It is proved, that the implementation of the Quality Management system is lead to continually increasing of chartered capital, further development of the company and give an opportunity to offer more types of insurance services.
The Company essentially developed since the last year. Acquiring the part of shares of "Anglo-Kyrgyz Insurance Company", located in the Republic of Kyrgyz, Thames Insurance Group becomes the first company in Azerbaijan which is being the founder of foreign company.
This development also obtained a regional acknowledgement. An evidence of this is an International Business Award "Caspian Integration Award-2005" as the "Insurance Company of the year for the type of Motor Insurance".
It is reasonable, that the development also affected at the statistics. The volume of the insurance premium for the first half of this year in comparing with the same period of last year increased for 50 percent. It is significant that the insurance premium for the first half a year is 2849.4 mln. manat. It is amount to 938 mln. manat difference in comparing with the same period of last year accordingly.
Most of insurance premiums-776 mln. manat is for type of voluntary motor insurance. Including 625 mln. manat for the type of type of property insurance, 190 mln. manat for type of voluntary medical insurance, 152.5 – for personal accident, 5.7 – for compulsory motor insurance, 0.6- compulsory property insurance against fire.
As a whole insurance premiums for the first half year of 2005 of Thames Insurance Group is amount to 606.4 mln. manat. Inclusive 503.3 mln. manat for type of voluntary motor insurance and 81.4 – for voluntary medical insurance.
The growth of Thames Insurance Group in the 1st quarter of 2005 increased by over 50 %.
10-06-2005
The premium income written in the 1st quarter of 2005 in Thames Insurance Group totalled 1450.5 mln. manats. This is 465 mln manats more that last year.
The largest sector of premium income – 761.8 mln mantas was collected on voluntary automobile insurance.
Collected premium on voluntary property insurance – 495, 8 mln mantas.
Voluntary health insurance – 133,7 mln mantas.
Voluntary accident insurance – 56,8 mln mantas
Compulsory automobile insurance - 1,7 mln mantas.
Compulsory Fire insurance – 0.6 mln mantas.
During the 1st Quarter of 2005 Thames Insurances Group has paid 299.9 mln mantas for insurance claims. Including 234.7 mln mantas of voluntary automobile insurance, 38 mln mantas of voluntary health insurance.
The Insurance Company of the year
02-06-2005
Thames Insurance Group is proud to have gained this award which was presented at the "Caspian Energy Integration Award - 2005" Khazar Integration Business Club in "Gulustan" palace on 4 June.
The award was decided by a panel of experts during 1 November 2004 to 15 January 2005 made up of officials and representatives of 1200 companies from over 30 countries Thames Insurance Group was the winner on the nominations "Insurance company of the year on car insurance" of "Caspian energy International Award - 2005" of Khazar Integration Business Club. At the presentation ceremony held at the "Gulustan Palace" on 4 June, General Director Mr. Rufat Musayev and Sales Department Director Ms Parvana Hajiyeva attendedt. The Award "Insurance company of the year on car insurance" was presented to Rufat. Musayev by president of the State Oil Company of Azerbaijan Republic (SOCAR), Mr Natig Aliyev. In his speech R. Musayev expressed his sincere thanks and noted the role of such awards made in the development insurance sector.
Thames Insurance Group establishes foreign companies.
02-06-2005
"Thames Insurance Group" has been operating in Georgia and Kyrgyzstan Republic’s for more that 7 years via associated companies . From the beginning of 2004 Thames Insurance Group was chosen as Caucasus and Asian Regional center of that group of companies.
The Company permanently widens its activity in the international field.
In 2004 The Company purchased of 30% of shares of "Anglo-Kyrgyz Insurance Company" and Thames Insurance Group is the representative of that company in Azerbaijan. During the past 6 months the officials of TIG has visited the Kyrgyzstan Republic several times and worked with the management to expand the company and implement management changes and new insurance products . As the result of it in near future the name "Anglo-Kyrgyz Insurance Company" is excepted to be replaced by "Thames Insurance Company". Continuing its successful activity company plans to be founder of "Anglo-Georgian Insurance" company in Georgia Republic. The name "Anglo-Georgian Insurance Company will be changed to Thames Insurance Group.
