BAKU, Azerbaijan, March 1
By Zeyni Jafarov- Trend:
The Azersigorta state insurance commercial company made a decision to close some branches in Baku and districts of Azerbaijan, Azersigorta told Trend on March 1.
“The work is underway in the management structure of Azersigorta to adapt to the corporate rules, one of the effective operations carried out in several spheres is to improve the portfolio and reduce some costs,” the company said.
“Proceeding from these goals, a decision was made to close some branches in the districts to recover and eliminate unnecessary expenses,” the company said.
The expenses of some branches of the company exceeded the revenues, thus they could not cover the expenses through the revenues, and this, in turn, could lead to the losses of the company.
The branches of the company located in the districts and the capital of Azerbaijan will have a representative status, with more efficient work in terms of profitability. Moreover, it is envisaged to create new branches with regional status.
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