International Insurance Company also intends to become a reinsurer

International Insurance Company (IIC) has completed the process of increasing the share capital.

According to the Ministry of Taxes, approved repayment of share issue prospectus is registered by the State Committee of Securities on April 21 at number AZ1001008700. Now the company's share capital is not at 8.8 million, as before, but 14.8 million manat.

The issue prospectus allowed the issuer to increase the registered capital by 6 million manat , releasing 600 shares with par value of AZN 10,000.

As the IIC representative told Turan, the company has appealed to the State Insurance Supervision Service under the Ministry of Finance for a separate license for reinsurance activity as the capitalization and other indicators are more than enough to receive it.

Recall, from this year on companies receive separate licenses for the provision of insurance and reinsurance business. - 17D-

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