List of insurance agents of AMF added

The insurance company Buta Sigorta added to the list of insurance agents of the Azerbaijan Mortgage Fund (AMF). This is the 21st of the authorized organizations (of the market of 28 insurance companies).

Buta Sigorta (formerly called Thames Insurance Group) with a paid registered capital of 7.3 million manat has been operating in the insurance market since 1996.

The company provides services for the nominally 17 types of voluntary and three types of compulsory insurance.

From January to September this year, the premiums reached 1 million 504.26 thousand manats, and the payment - 129.61 thousand manats.

AMF was established in December 2005 and in March 2006 it began to issue mortgage loans. AMF agents are 27 local banks. Mortgage loans are provided to Azerbaijani citizens up to 50,000 manat for up to 25 years at a rate no higher than 8%. Concession loans are up to 35,000 manat for up to 30 years at a rate of up to 4% per annum.

In 2011, the volume of mortgage lending from the AMF was 95.54 million manat. - 17D-