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Azerbaijani Əmrah Sığorta insurance company raises capital to minimum requirements

Business Materials 19 March 2013 16:00 (UTC +04:00)
Azerbaijani insurance company Əmrah Sığorta raised its capital from the current level of 4.738 million manat to the minimum requirement of the Ministry of Finance of five million manat.
Azerbaijani Əmrah Sığorta insurance company raises capital to minimum requirements

Azerbaijan, Baku, 19 March / Trend A.Akhundov /

Azerbaijani insurance company Əmrah Sığorta raised its capital from the current level of 4.738 million manat to the minimum requirement of the Ministry of Finance of five million manat.

The State Committee for Securities has registered an issue prospectus of ordinary registered documentary shares to the sum of 262,000 manat, the committee said on Tuesday. The prospectus includes 1310 shares at a par value of 200 manat.

The Əmrah Sığorta Company founded by two individuals has been operating in Azerbaijan since 1993.

According to the schedule of capitalisation, the minimum capital requirement of insurance companies in Azerbaijan should not be lower than five million manat, and of reinsurance companies not less than 10 million manat by January 1, 2013.

The official exchange rate on March 19 is 0.7848 AZN / USD.

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