AzRe Reinsurance increases capital

Baku. 15 November. REPORT.AZ/ AzRe Reinsurance OJSC, the only Azerbaijani company engaged in reinsurance, has increased its authorized capital by 10 mln AZN and made 50 mln AZN.

Report informs citing the company.

According to the information, capital increase took place at expense of increasing nominal value of 2 000 shares in turnover from 20 000 AZN to 25 000.

Notably, AzRe Reinsurance was established in 2007. Its shares owned by 6 physical persons. The company is 100% shareholder of Qala Insurance OJSC, 88.57% Qala Life Insurance OJSC.