OREANDA-NEWS. July 09, 2008. Lankaran branch of the International Insurance Company (IIC) will starts its operation as of September this year, reported the press-centre of International Bank of Azerbaijan.

Mr. Vusal Rajabli, the Company’s Marketing Director informed “APA-Economics” that new representations and branches are opened under the branches of the International Bank of Azerbaijan (IBA), the founder of the Company. Let us note that currently the Company has 4 branches across the republic, 2 of them are in Baku and 2 – in the region (Sheki and Ganja).

Number of the branches of IBA across the country is 36.

Let us remember that IIC, owned by International Bank of Azerbaijan, has been in operation since 2002. The Company earned AZN 10,897 million in premiums, paid AZN 2.095 million for insurance claims and got AZN 1,939 million in profit during 2007.

As of June 1, the Company’s authorized capital stood at AZN 8,8 million. Currently, the Company provides 29 voluntary and 4 compulsory types of insurance services.