Bank Of Baku

AzSighorta predicts to get net profit tripled this year

AzSighorta predicts to get net profit tripled this year
# 05 November 2008 10:48 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based AzSighorta predicts to earn AZN 10 million in premiums for the full year of 2008, twice as much as in 2007, said Khayal Mammadkhanli, Deputy Chairman of the Company.
He added that the company’s net profit is expected to rise 2.6 times to AZN 3.1 million.
The company deposits most of the profit in banks.
The company has been in operation since December, 2006.
The insurer earned AZN 7.20 million in premiums and paid AZN 1.35 for insurance claims in January-September of 2008. AzSighorta provides 25 voluntary and 3 compulsory types of insurance.
As of July 1, its authorized capital stood at AZN 2 million.
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