Insurance company "Buta Sigorta" since the re-branding (to 31 July was the company with mixed capital and was called Thames Insurance Company) has signed 630 contracts for $ 1 bn. For comparison - from April 1 to August 1, too, the new company "Royal Sigorta" gathered 50 thousand manats.
According to the chairman Abbas Babayev, the company has 600 individuals and 20 legal entities, so there is a transition from "corporate domination of friendship" to work with the citizens. This is evident from premium portfolio - basically, a contract is in voluntary: VHI, car CASCO insurance, cargo insurance and property.
According to him, this approach will allow before the end of the year to increase the amount of premiums to 2.5 million manat. Most of the profits will go to strengthening the capitalization, so the decision of shareholders in August AZN 1.5 million aimed at increasing the share capital, the amount of which was paid 5.8 million manat.
Buta Sigorta is owned by six shareholders - Qafqaz Lizinq, Baku Electronics, Bank of Baku, Baku Service Company, Auto Azerbaijan, each of which owns 19% of the shares, as well as NAB Holding with a 5% interest in equity.
Insurance company Buta Sigorta (formerly called Thames Insurance Group) with a paid charter capital of AZN 7 million 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 July this year, the premiums reached 565 thousand manat and the payments - 91.2 thousand manat. - 17D-
Economics
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
-
Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
-
Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
Leave a review