Bank Of Baku

Gala Sighorta to intensify work with individuals

Gala Sighorta to intensify work with individuals
# 29 October 2008 08:37 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan’s newly established Gala Sighorta Insurance Company concluded 17 policies worth AZN 30 000 in voluntary insurance services since its inception, said Abbas Babayev, Chairman of the Board.
“We haven’t had any compulsory insurance contract yet. At present our clientele consists of corporate customers because they are more active. We will gradually favor work with individuals because there is a gap in the insurance market segment of individual bodies. There are a few insurance companies working with individual customers. In a few years, our company will be one of those who work closely with individuals,” he added.
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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