Azerbaijani insurance company ready to double capital
Azerbaijan, Baku, Dec. 10 / Trend A. Akhundov /
Azerbaijani insurance company AzSıgorta plans to raise the authorized capital next year, deputy chairman of the company's Board Anar Talibov told Trend today.
"All profits obtained in 2011 will be spent on raising capital," he said.
He said that the profit is expected to hit 10-11 million manat in 2011 or two times more compared to 2010.
At present, the authorized capital of the company is 9.45 million manat.
AzSıgorta was founded in November 2006. The company has over 180 employees. It renders services on 32 voluntary and five types of compulsory insurance.
The official exchange rate is 0.7864 manat to $1.