OREANDA-NEWS. August 17, 2011. According to the decision of OJSC AtaSigorta’s  shareholders general annual meeting, the company’s authorized  capital will will reach 5 million AZN by increasing by 200.000 AZN, reported the press-centre of AtaHolding.

According to issue prospectus registered by the State Securities Committee of Azerbaijan, the increase of company’s registered capital will happen through conversion of 200.000 ordinary uncertificated registered shares with 25 AZN face value.

The increase of authorized  capital will come from capitalization of net profit earned during 2010.  In compliance with the law "On stimulation of capitalization of banks, insurance and reinsurance companies ", which is of great importance for strengthening payment capacity and increase of insurance companies’ capitalization,  for last two years AtaSigorta has been regularly directing its annual net profit to increase company’s equity capital.

“AtaInsurance" OJSC has been operating at insurance market since 2004.  "AtaInsurance" provides 27 classes of insurance, 22 of which are voluntary and 5 are compulsory.   The company with authorized capital of 4.8 mln AZN was founded by “AtaHolding” OJSC (100%).