Baku, Azerbaijan, Oct. 27
By Anvar Mammadov – Trend:
Azerbaijan’s Ateshgah Insurance Company does not intend to expand its branch network soon, Azer Aliyev, chairman of the company’s board, said in an interview with Trend.
He said that currently, the company has a sufficient number of branches in the main cities of the country.
"The number of the company’s branches is less than it was two years ago, but we still have enough branches in the main cities of the country," he said. “As for the expansion of the branch network, I do not think that it will happen soon as the company operates in the country’s main districts."
At present, the company’s branch network includes offices in Baku, Sumgait, Khachmaz, Ismayilli, Mingachevir, Sheki, Zagatala, Gazakh, Shamkir, Ganja, Barda, Imishli, Sabirabad, Salyan and Lankaran.
Ateshgah insurance company was established in 1996 and the license for activity was granted in 1997. As of late 2016, the company’s share capital was over 5 million manats.
The company’s assets amounted to 41.55 million manats, liabilities - 26.65 million manats in early 2017. The company completed 2016 with a profit worth 356,720 manats.
The company’s premiums amounted to 27.86 million manats and payment of claims - 11.66 million manats in January-September 2017.