The share capital of the insurance company Buta Sigorta will be increased to 7.3 million manat. This is almost 26% more than now.
The State Securities Committee (SSC) has reported that the prospectus was registered on August 28. The share capital increase will be possible thanks to the additional issue of 75 thousand shares with a nominal value of 20 manats each.
In total the founders will invest 1.5 million manat. The registered capital is 5.8 million manat now.
Buta Sigorta is owned by six shareholders - Qafqaz Leasing, Baku Electronics, Bank of Baku, Baku Service Company, and Auto Azerbaijan, each of which has 19% of the shares, as well as NAB Holding with a 5% interest in the equity.
Buta Sigorta (formerly called Thames Insurance Group) with a paid charter capital of AZN 7 million has been operating in the insurance market since 1996.
The company provides services for 17 types of voluntary and three types of compulsory insurance.
From January to July this year, the premiums reached 565 thousand manat, and the payments were 91.2 thousand manat. -17D-
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