Bank Of Baku

Gala Sighorta to double the number of insurance service mix next year

Gala Sighorta to double the number of insurance service mix next year
# 27 October 2008 15:26 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan’s newly established Gala Sighorta Insurance Company plans to get licenses from the Ministry of Finance for 12 new types of voluntary insurance services, said Abbas Babayev, Chairman of the Board.
According to him, the company provides only 6 voluntary and 4 compulsory types of insurance services at present.
Besides, the insurer will launch several medical insurance and transport insurance programs in 2009.
Gala Sighorta was issued a termless license by the Ministry of Finance on July 31, 2008.
The company is owned by AzRe Reinsurance Company (60%) and an individual (40%).
As of October 1, it earned AZN 20 000 in premiums.
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