Azerbaijan, Baku, 9 July / Trend U.Ismayilova / Xalq Sigorta, the Azerbaijani huge insurance company, expands the list of insurance services, Akber Tahiri, deputy general director of the company, said on 9 July.
"The company appealed last week to the Finance Ministry to obtain a license for voluntary insurance of bank loans," Tahiri said. The process of licensing at the Finance Ministry takes one month to complete.
According to Tahiri, tariff for this kind of insurance will be established depending on the amount of loan with annual interest rate ranging from 2% to 4% of.
The company will sign an insurance agreement with owners of bank loans for one year.
Xalq Sigorta is operating at the Azerbaijani insurance market since 2005. This is the huge company with the authorized capital in the amount of AZN 10.68mln. The insurance company also holds 15% of Bank Kapital, which earlier belonged to the government. The Azerbaijani Finance Ministry said that Xalq Sigorta gathered premiums in the amount of AZN 3.45mln, including AZN 0.34mln in claims in January-March and occupies the seventh place for the amount of taxes among ten leaders of the Azerbaijani insurance companies.
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