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Azerbaijan Industry Insurance raises authorized capital

Azerbaijan Industry Insurance raises authorized capital

24 December 2009 15:27 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-ECONOMICS. Azerbaijan Industry Insurance (Azerbaycan Senaye Sigorta) expects to bring its share capital up to AZN 4 million as at January 1, 2010, up twice from a year ago.

Faig Huseynov, deputy chairman of the company, said the process of placing additional shares will be completed by the end of this year.

The companyâ€™s authorized capital is AZN 2 million now.

Azerbaijan Industry Insurance, owned by Azerbaijan Industry Bank, has been in operation since 1996.

The company currently provides 22 types of voluntary and 4 types of compulsory insurance services.

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