Alfa Sigorta Refutes

The local insurers Alfa Sigorta officially denied reports of a number of local electronic mass media on its closure.

The press release stated that "widespread speculation and assumptions about the closing are untrue. The company operates in a normal mode, providing full range of insurance services."

In accordance with the strategic goals, Alfa Sigorta continues to work on improving operational processes and customer services. In this connection, it works on the automation and optimization of the structure and costs.

Alfa Sigorta with the authorized capital of 7,780,000 manat received a license to operate in 1997. The sole shareholder is JSC Bank Technique. Clients are provided services for 33 types of insurance, including those in the framework of membership in the Bureau of Compulsory Insurance.

In January-March its premiums amounted to 1 million 495.93 thousand manat with payments of 434 thousand manat. --17D-

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