Bank Of Baku

Era-Trans raises share capital

Era-Trans raises share capital
# 31 October 2008 13:05 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan’s insurance company Era-Trans will raise its share capital by 82% to AZN 2 million, said Elshen Babayev, Director of the Company.
He added that the payment of AZN 900 000 stock issue will be completed by the year-end.
The capitalization is financed by the existing shareholders.
At present the company’s authorized capital is AZN 1.1 million.
Owned by two individuals, Era-Trans has been in operation since 1994.
It earned AZN 1.649 million in premiums and paid AZN 0.798 million in insurance claims during January-September.
The company provides 24 voluntary and 4 compulsry types of insurance services.
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