Azerbaijan, Baku / Trend corr U. Ismayilova / Standard Insurance company is working for being issued a rating of financial stability, the Director General of the company, Kamal Ibrahimov, said at the meeting of the Azerbaijan Insurers Association on 22 June.
"We expect to be issued a quite high rating but, certainly, related to the rating of the country," he said.
Ibrahimov noted that the company seeks issuance of the rating in order to show its stability to Azerbaijani consumers and its financial durability to its foreign partner companies. According to the Director General, the company expects be issued the rating this year on the results of the last year.
Ibrahimov said that the rating was necessary for the company as it was operating not only in Azerbaijan but also abroad.
The Committee of Directors of Standard Insurance made the decision to increase the authorized capital up to AZN 8mln from AZN 4mln. The increase will be held gradually at the expense of the incomes and partially at the expense of the shareholders.
The company has plans to open its branches in Guba and Lankaran this year.
Standard Insurance has a branch in Azerbaijani Ganja city. The company has grown by 70%, compared to 2006.