Azerbaijan's Gunay Sigorta insurance company to raise its authorized capital
BAKU, Azerbaijan, Aug. 12
Azerbaijan’s Gunay Sigorta OJSC, a big insurance company, will increase its authorized capital, Trend reports referring to the Electronic System for Information Disclosure at the Central Bank of Azerbaijan.
According to the document published in the system, the authorized capital of the company will be increased by 500,000 manat or $294,100 (6.5 percent), thus amounting to 8.2 million manat ($4.8 million).
Gunay Sıgorta OJSC started to operate in 1992 under the name of Gunay-Anadolu, and in August 2008, it was re-registered as Gunay Sigorta.
For about 20 years, the company has been collaborating with one of Turkey's biggest insurers - Anadolu Sigorta company. The authorized capital of the company is 7.7 million manat ($4.5 million). It has a license to carry out 19 types of voluntary and four types of compulsory insurance.
As of late January 2020, the company collected insurance premiums in the amount of 807,000 manat ($474,705) and paid insurance indemnities in the amount of 174,000 manat ($102,352), ranking 15th among the Azerbaijani insurance companies.
Today, 21 insurance companies and one reinsurance company operate in Azerbaijan.
(1 USD = 1.7 AZN on Aug.12)