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Gunay Sigorta gets rise in bank deposits

25 September 2012 08:46 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Gunay Sigorta has increased the deposits placed in banks as investment to AZN 2.7 mln, up 60% compared with a year ago.

Head accountant of the company Halima Aliyeva says the company prefers to invest its funds in bank deposits due to lower development level of security market.

She thereafter spoke about bankâ€™s financial performances. According to her, insurance charges made AZN 322,780 down 9.8% compared with a year earlier. Insurance payments rose 36% to AZN 208,896.

Most of premiums came from property insurance against fire and other perils (AZN 145,808), vehicle insurance (AZN 88,808). Payments went to Vehicle insurance (AZN 82,311) AND Health insurance (AZN 20,994).

Besides, the company will issue AZN 1.5 mln-additional share emission to increase authorized capital. By the end of this year, the authorized capital will increase by 40% or AZN 1.5 mln to AZ 5 mln.

Remind that, Gunay Sigorta has been in operation since 1992. the company operates 18 voluntary insurance types.