Azerbaijani-Turkish insurance company actively introduces agricultural insurance
Azerbaijan, Baku, October 7 / Trend U. Ismayilova /
Azerbaijani-Turkish insurance company Basak Inam intends to intensify operations in insuring of agriculture, chairman of the company's board Orhan Huseynov said on October 7.
"The reason is that shareholders of the company, including Turkish Basak specializes on agricultural insurance," Huseynov said.
He said that the company intends to actively introduce insurance of agriculture from 2010.
Weight of portfolio on agricultural insurance must be increased up to 20-30 percent upon the company's strategic plan, Huseynov said.
Shareholders of Basak Inam are French company Groupama. Groupama bought 60 percent of shares of the company's founder - Turkish Basaк. Basaк has 49 percent of shares but Azerbaijani side has 51 percent.
Joint insurance company Basak-Inam operating since 1996 renders 31 insurance services. The company's authorized capital has been increased up to 2 million manat since May.
On October 7, the official exchange rate is 0.8033 manat to $1.
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