Azerbaijani insurer seeks to up capital

The Azerbaijani insurance company Az?rbaycan S?naye S??orta plans to increase its share capital in early 2013, deputy chairman of the company Intigam Sayfullah told Trend on Wednesday,.

"We expect earnings of one or two million at the end of the year. It can be designed to increase capital," Sayfullah said.

In 2011, the company raised capital from 4.8 million to six million manat.

Azerbaycan Senaye S?gorta was established by the Azerbaycan Senaye Bank? in December 1996 and is a member of Azersun Holding Group of Companies. In 2010, the bank transferred half its shares to the Azerbaijani company Anadolu Investments.

Anadolu Investments is affiliated with the Turkish company Anadolu Cam Investment, which specialises in the production of canned products. Anadolu Investments owns 97 per cent of Azerbaycan Senaye Banki.


/Trend/