Gunay Sigorta Company Develops New Insurance Product in Azerbaijani Market
Azerbaijan, Baku / Trend corr. U.Ismaylova / The insurance company Gunay Sigorta has been developing a new insurance product for the Azerbaijani market, Mehman Aliyev, the Deputy Director General of the company, said.
The company is developing liability insurance for directors and managers, Aliyev said.
Gunay Sigorta made the decision to develop the product after the appearance of the demand among the company's foreign corporative clients.
The main concept of the insurance is citizen liability for managers before third persons whose interests may be damaged.
The company is planning to increase its authorized capital from AZN 760,000 to AZN 800,000.
Gunay Anadolu Sigorta has been functioning since 1992. The co-founders of the company are the shareholder bank of Gunay and the Turkish insurance Anadolu Anonim company.
The company cooperates with the re-insurance companies of Munich Reinsurance Company ( Germany), Swiss Reinsurance Company ( Switzerland), Cologne Reinsurance Co. Ltd ( Germany), Assicurazioni Generali S.P.A. ( Italy), Royal & Sun Alliance Reinsurance ( Britain), American Re- Insurance Company (US), and SCOR Reinsurance (France).