The extraordinary general meeting (EGM) of the shareholders of Bashak Inam Sigorta decided to increase the company's share capital by half - from 6 million AZN to 9 mln. AZN.
Recall that on November 4 the Ministry of Finance of Azerbaijan suspended the license of the company due to non-compliance of its aggregate capital with the minimum capital requirements for insurers. Now the insurer has six months by the rules to bring the capital to the required minimum level.
According to the approved schedule, until the end of 2014, the share capital will be increased to 7 million, next year - up to 8 million, and in 2016 - up to 9 mln. AZN.
In January-October this year, the company’s premiums were 2.5 mln. AZN and the payments were 1.1 million AZN.
The insurance company Bashak Inam Sigorta established in 1996 provides services for 26 types of insurance. --17D-
Economics
-
As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
-
Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
-
As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
-
Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
Leave a review