Bank Of Baku

Gala Sighorta decides on initial investment plans

Gala Sighorta decides on initial investment plans
# 28 October 2008 10:38 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan’s newly established Gala Sighorta Insurance Company plans to deposit the earned premiums in banks or invest in T-bills, said Abbas Babayev, Chairman of the Board.
He added that part of the profit will be used in the year-end for the establishment of new service centers.
The company predicts AZN 70 000 in premiums and AZN 10 000 in profit for 2008.
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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