Azerbaijan, Baku / Trend corr. I.Khalilova / The insurance company of AzSigorta is planning to increase its authorized capital by AZN 5mln by the end of 2007, Khayal Mamadkhanli, the deputy director general of the company, said. Currently, the paid authorized capital of the company makes up AZN 1mln.
An increase of the insurance company's capital will be implemented through funds of its functioning founders. The company expects to receive AZN 1.5mln through incomes due to obligatory payments.
The company is planning to collect insurance premiums in the amount of AZN 4mln or 5mln.
An increase of the company's capital leads to a decrease of the volume of risks by 50%.
AzSigorta will be among the five top insurance companies after it increases its capital by AZN 5mln.