Azerbaijani insurer starts own broker company's registration

Business Materials 29 July 2011 17:39 (UTC +04:00)

Azerbaijan, Baku, July 29 / Trend, A. Badalova /

Azerbaijani insurance company "Qarant Sıgorta" plans to hold a presentation of its broker company - Qarant Capital in the near future, which is currently under registration process, deputy board chairman Fuad Allahverdiyev said at a news conference on Friday.
"The company will mainly deal with investing and financing activities on the government securities market," he said.

As the company's board chairman Vagif Hasanov said earlier, Qarant Sigorta has invested over a million manat in securities.

"Qarant Sigorta invested a little bit more than a million manat in securities, we did it through the broker company," the Hasanov said. He said the securities market is very free and not professional. "I think it is a company of the future and creating it now and studying the market will give its yields in the future," he added.

Qarant Sigorta got license for insurance activity in November 2007 from the Azerbaijani Finance Ministry. Qarant Sigorta is part of ZQAN Holding.

The official exchange rate is 0.7866 on July 29.