Azerbaijani Insurance Company Intends to Obtain International Rating from Standard & Poor’s
Azerbaijan, Baku, 6 June / corr. Trend U. Ismayilova/ One of the largest insurance companies of Azerbaijan - Az Sigorta plans to increase its collections up to AZN10mln by the end of the year, said Khayal Mammadkhanli, the deputy chairman of the Board of Directors of the Company.
"The Company plans to double its collections in a year," Mammadkhanli said.
In 2007, the Company became one of the five leading insurance companies for its collections which totaled AZN5mln by the end of year.
As to the future plans of the company, Mammadkhanli stated that the process of obtaining ISO 9001:2000certificate is expected to be completed by this summer. Later, Az Sigorta plans to begin talks with the Standard & Poor's to obtain an international rating as well.
Az Sigorta, which has been functioning since November 2006, offers 28 types of insurance services- three of which are compulsory. The authorized capital stock of the company totals AZN2mln. From January to March 2008, premiums of the company amounted AZN1.77mln with payments being AZN0.25mln.
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