Azerbaijan, Baku / Trend corr.U.Ismailova / Nofal Rzayev , the Deputy General Manager of the Azerbaijani Insurance Pasa S?gorta Company, stated on the 8th of June that the Company increased its Authorized capital stock.
According to Rzayev , the company has increased its capital by AZN 200,000 and the total funds made up AZN 1.2mln.
The increase of the insurers' capital was carried out on the expense of the company's resources. The increase of the authorized capital stock of the company was implemented within the framework of the general increase due to capitalization of insurance companies.
"We consider the increase of capitalization the necessary condition for the increase in productivity of the work, as a separate insurer, so the whole market is insured. We will continue the gradual increase in the capital of the company," Rzayev said.
Pasa S?gorta received AZN 1,56mln of insurance awards in the first quarter of 2007.The company render serves on twenty-eight types of insurances.