Insurance Companies Expand Investment Activities in Azerbaijan

Business Materials 13 December 2006 19:42 (UTC +04:00)

According to the exact data of the Azerbaijan Finance Ministry, over the third quarter of 2006, the paid authorized capital of 28 insurance companies operating in the country reached 39,1 mln. AZN, Trend reports referring to a message spread by the Finance Ministry of the Country.

The above mentioned figures increased by 39,6 % or 11,1 mln. AZN versus those ones of the corresponding period of the last year.

Most of the authorized capitals (94,4% or 36,9 mln. AZN) is in the money form, and 2,2 mln. AZN (5,6%) in different kind of property.

Over 9 months of 2006, the insurance companies sent 37,54 mln. AZN (including banking deposits 33,43 mln. AZN) to the investment fund. In result they gained additional

1,92 mln. AZN. The insurers invested by 51,6% or 12,78 mln. AZN more against the corresponding period of the last year. Therefore, the growth of incomes from the investment activity reached 92%.