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Azergarant to raise authorized capital

Azergarant to raise authorized capital

19 February 2010 09:09 (UTC +04:00)

Baku. Elnur Huseynguluyev-APA-Economics. Azerbaijan based Azrgarant Insurance Company is intending to increase its authorized capital by 29.6% to AZN 3.5 million.
Shukur Huseynov, deputy chairman of board, told APA-ECONOMICS that the authorized capital increase will be increased not by the companyâ€™s profit, but by additional share emissions. â€œThis will directly be realized by the shareholders, because as the effects global financial crisis have not been decreased, we consider that it will continue in 2010 as wellâ€, he noted.
The company is working to further increase its nominal capital and prepare new insurance packages.
Established by a number of individuals in 1993, Azergarant provides 23 voluntary and 4 compulsory types of insurance services.

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