Azerbaijan, Baku, April 4 / Trend /
The Azerbaijani Ministry of Finance has issued a perpetual license to operate the Alfa-Sigorta insurance company, according to a statement of the State Insurance Supervision Service under the Ministry published on its website.
'The licence was granted on April 3, 2013, due to the expiration of the previous permit in accordance with the law 'On Insurance', the statement said.
Alfa Sigorta is a subsidiary of Bank Technique JSC and was established in 1997. It is one of the oldest companies operating the insurance sector of Azerbaijan.
Assets of Alfa-Sigorta based on performance in 2012 totalled 11.69 million manat, increasing by 46 per cent.
The paid-up share capital of Alfa-Sigorta stood at 7.78 million manat by the end of 2012 compared to 4.75 million manat in 2011.The aggregate capital was 8.02 million manat in 2012, or three times more than in 2011.
The aggregate liabilities of the company grew by almost 80 per cent to 3.66 million manat, and capital and liabilities as a whole amounted to 11.69 million manat, increasing by 46 per cent.
The official exchange rate on April 4 is 0.7846 AZN / USD.