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-
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