Bank Of Baku

Azerbaijan Industry Insurance to increase authorized capital by 30%, this year

Azerbaijan Industry Insurance to increase authorized capital by 30%, this year
# 18 March 2011 09:53 (UTC +04:00)
Baku. Elnur HUseynguluyev – APA-Economics. Azerbaijan Industry Insurance Company will hold a placement of AZN 1.2 mln-additional share emission for increase the authorized capital, this year, Deputy Chairman of Board of Directors Faig Huseynov told APA.

According to him, the company’s profit will be directed to the capitalization: “The authorized capital will be increased by 30% to AZN 5.2 mln”.

Remind that, AIA has been in operation since 1996. The company operates 22 voluntary and 4 compulsory insurance types.
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