Azerbaijani Insurance Company Upgrades its International Rating
Azerbaijan, Baku, 21 October / Trend corr.
U.Ismayilova/ The amount of premiums collected by the
Standard Insurance company rose over the same period of last year by 13.9 per
cent to AZN 12.5mln, company said on 20 October.
The increase was
observed for all major types of insurance, which constitute the overall
portfolio of the company. The volume of payments for the nine months amounted
to AZN 2.2mln.
Standard Insurance is
one of the leading insurance companies in Azerbaijan. Company plans to double
its authorized capital in 2009, which is currently AZN 8mln.
Moody's Investors Service rating of financial stability "B1 with a positive forecast", issued last year, remains the highest in the private financial sector and the only international rating assigned to domestic insurance companies. Revision of Standard Insurance's international rating in 2009 is being negotiated.
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