Baku, Azerbaijan, Feb. 13
Trend - Abbas Akhundov:
The Azerbaijan insurance company Atasığorta is planning to increase its capital from 7.6 million manats to 10 millon manats, chair of the administration of the company Museyib Aliyev told Trend on Feb. 13.
According to Aliyev, the increase of capital will be done for funds of the shareholders.
According to the Ministry of Finance's draft decision determining the minimal capital sum for insurers, the Ministry will keep the requirements for the minimum amount of the common capital of insurance companies at a range of five million manats. The minimum size of the joint capital of a new insurance company must be established at the same range.
The company has been operating in the insurance market since 2004, carrying out activities on 22 types of voluntary and four types of compulsory insurance. AtaSığorta is the founder and member of the Compulsory Insurance Bureau. The company has four branches and four representative offices.
The official exchange rate on Feb. 13 is 0.7844 AZN/USD.
Translated by R.A.
Edited by C.N.