Bank Of Baku

Azerbaijan Industry Insurance to raise share capital

Azerbaijan Industry Insurance to raise share capital
# 24 September 2008 09:14 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan Industry Insurance plans to raise its share capital by 50% to AZN 1.5 million in January, 2009, said Rashad Ahmadov, the company’s director general.
He added that capitalization will be paid through profit earned in 2008.
Azerbaijan Industry Insurance (former Capital Investment Insurance or CI Insurance), owned by Azerbaijan Industry Bank, has been in operation since 1996. Its authorized capital stood at AZN 1 million. The insurer provides 22 voluntary and 4 compulsory types of insurance services.
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