Azerbaijan, Baku /corr. Trend U.Ismaylova / Azerbaijan's insurance company AzSigorta is planning to increase its authorized capital, said Company's Deputy Director-General, Khayal Mammadli. Currently the Company's authorized capital amounts to AZN 1mln. The amount of the increase is not disclosed yet.
Speaking of the Company's plans for the current year, Mammadkhanli said that AzSigorta is working on opening new regional branches. "Works has already been completed. By the end of the year, AzSigorta will present eight new branches in the biggest regions of the Country," he said.
AzSigorta functions in 40 regions of Azerbaijan.
Within the Company's plans, the Deputy Director-General highlighted the presentation of new services for entrepreneurs and business people in construction insurance and assembly works. "We have already made proposals for the entrepreneurs within the construction sphere, which includes the insurance of all risks relating to the construction," he said. According to Mammadkhanli, realizing a number of large projects will provide an opportunity for the Company to increase its income. "Income could be doubled," Mammadkhanli said. As a result of the first half year, the premiums of the company increased by four times and totaled AZN 1.09mln.