Azerbaijani Reinsurance Company to discuss action plan for 2010

Business Materials 18 January 2010 13:17 (UTC +04:00)

Azerbaijan, Baku, Jan. 18 / Trend U.Ismayilova /

An only reinsurance company in Azerbaijan AzRe Tekrarsigorta will hold general meeting of shareholders Feb. 19, company deputy chairman Vusal Abbasov said today

"We will discuss mainly the company's financial results fixed in 2009," Abbasov said

According to Abbasov, the company's shareholders will discuss share of revenues received from the activities in 2009 and action plan in 2010.

Abbasov did not exclude discussions on increasing the share capital of the company at the expense of profits obtained as of 2009 results. The company's authorized capital is 4,000,000 manat.

AzRe Tekrarsigorta was licensed as a re-insurance company Nov. 7, 2007. The company's shareholders are six individuals

The company offers services on Non-life insurance to local and regional insurance and reinsurance companies and its mediators, including property, construction risks, water, air and road vehicles, cargo, liability and financial risks insurances

According to the finance ministry, in January- November the company's premiums amounted to 21.83 million manat, with payments - to 7.68 million manat

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