Khalg Sigorta Raises Nominal Value of Its Shares

The conversion of its shares from 4.11 to 4.40 manat will enable the insurance company Khalg Sigorta to increase its authorized capital to 32 million 516 thousand manats (+ 7.05%).

According to the data of the State Committee for Securities (http://www.scs.gov.az/n449/xalq_sigorta_asc-nin_adi_senedsiz_adli_sehmleri_dovlet_qeydiyyatina_alinmishdir), growth of the nominal value applies to 7 million 390 thousand securities held by the financial structure. Recall, the level of the authorized capital is 30 million 372.9 thousand manats.

JSC Khalg Sigorta obtained a license from the Ministry of Finance in April 2006. Its shareholders are three individuals.

In January-May, the company collected 4 million 223.44 thousand manats and paid on insurance cases 1 million 543.38 thousand manats (the Eastern European ratio is 36.5%). --17D-

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