Azerbaijani insurance company announces future plans following license restoration
Baku, Azerbaijan, June 2
By Zulfiya Gurbanova - Trend:
"Gunay Sigorta" insurance company whose license was restored on May 29, firstly will renew the expired agreements, the company's board chairman, Ilham Amiraslanov told Trend.
Amiraslanov added that the mentioned agreements could not be renewed due to the company's suspended license.
During June-July, the company be preparing a special insurance package for young families aged 22-30. The launch of the package is planned for the beginning of September next year.
"This will a program of support to younger families, in a sense. This package offers low-tariff insurance of vehicles and real estate. In addition to the package, the cost of which, presumably, will be 400 manats, a 5,000 worth health insurance will be offered along with the package," Amiraslanov said.
"As a result, the insurer will get this package for 600-650 manat, " Amiraslanov said, adding that "Gunay Sigorta" also offers insurance packages, but at slightly higher prices to families of age 30 and over.
The authorized capital of the company is 5.4 million manat, and the total capital - 5.044 million manat, which exceeds the minimum requirement of the Finance Ministry to the total capital [as of January 1, it makes up five million manat], the board chairman said.
Amiraslanov also added that at this stage, "Günay Sığorta" has no plans to open branches and representative offices.
Azerbaijani joint-stock bank Gunay Bank is the sole shareholder of Gunay Sıgorta, which has been operating since 1992.
In January-April, the total amount of insurance premiums amounted to 97.080 manat with payments at 24,000 manat.
The official exchange rate on June 2 is 0.7844 AZN/USD.
Edited by S.I.