Azerbaijan, Baku, 17 June / corr. Trend U.Ismayilova / Pasa Sigorta, one of the biggest insurance companies of Azerbaijan, has increased its authorized capital to AZN 9mln from AZN 4mln, said Nofel Rzayev, General Director of the company on 17 June.
"Authorized capital, which was increased by shareholders, was fully repaid," Rzayev said.
After increase of the capitalization, Pasa Sigorta ranked second among the 10 top insurance companies of Azerbaijan, if taken into consideration the amount of authorized capital.
Summary table shows the top 10 Azerbaijani insurance companies per amount of their capitalization.
|
Insurance Company |
Authorized Capital, in mln AZN |
|
Xalg Sigorta |
10,68 |
|
Pasa Sigorta |
9 |
|
МСК |
8,8 |
|
Standard Insurance |
8 |
|
AIG Caspian |
3,5 |
|
Azersigorta |
3 |
|
MBASK |
2 |
|
ATA Sığorta |
2 |
|
Star Alyans |
1,96 |
|
A-Group |
1,55 |
Pasa Sigorta insurance company has been operating in the Azerbaijani insurance market since 2006, and offers 29 kind of insurance services. In 2007, the company was awarded management certificate by Moody International Certification Services. From January to March, the company's premiums totaled AZN1.40mln, with the claims of about AZN 0.08mln, the Azerbaijani Finance Ministry reported.
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