Compulsory Insurance Bureau doubles investments in SOCAR bonds

As of January 1, 2019, investments of the Compulsory Insurance Bureau (CIB) in SOCAR bonds stood at AZN 7.813 million, up 2.3-fold from the previous year, Report informs citing CIB’s financial statement.

According to the statement, the CIB has been investing in Finance Ministry’s bonds since 2018 and had AZN 2.967 million of investments in the government securities at the end of the year. Instead, the CIB removed AZN 2.003 million-promissory note, which it has had since 2017, from the investment portfolio.

Generally, investment securities in CIB’s assets rose by 98.25% to AZN 10.779 million in 2018.