The State Securities Committee of Azerbaijan has registered the issue of simple nominal non-documentary shares of the AzRe Tekrarsigorta, which is the only re-insurance company in Azerbaijan.
A total of 2,000 bonds with a nominal cost of 1,000 manats have been registered. The total sum of issues is 2 million manats.
In 2008, the paid off authorized capital of the AzRe Tekrarsigorta was 2 million manats, net profit - 89,000 manats and surplus earnings -163,000 manats.
AzRe Tekrarsigorta was licensed as a re-insurance company in November 2007. In February 2009, the company was included into the Association of Insurance Companies of Azerbaijan.
Company's assets hit 11.347 million manats in 2008. Long-term assets for the mentioned period totaled 662,000 manats and short-term - 10.68 million manats. Company's deposits accounts were 3.25 million manats in 2008.
On May 30, the official rate is 0.8036 manat to $1.