Azerbaijan, Baku, Dec.22 / Trend, U.Ismayilova /
The insurance company Azal Sigorta, specializing in air transport insurance, from Dec. 20 increased its authorized capital to 8.137 million manat, the company said today. Earlier the company's authorized capital amounted to 7 million manat.
The State Securities Committee has registered the issue prospectus of ordinary registered book-entry shares of the JSC "Azal Sigorta" worth 8.137 million manat.
Azal Sigorta, was established in 1995. The founder of the company is CJSC "Azal". The company's premiums in January-November amounted to 11.78 million manat with payments of 1.03 million manat.
The Azerbaijan Finance Ministry amended the minimum capitalization requirements for insurance and reinsurance companies, according to which the minimum capital requirement for insurers as of Jan. 1, 2011 is fixed at 3 million manat.
The official exchange rate is 0.7987manat to $1 Dec.22.