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Azerbaijan: AtaSigorta plans to increase share capital, open new branches

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Azerbaijani insurer OJSC AtaSigorta plans to increase its share capital from 7.6 million Azerbaijani manats ($9.7 million) currently to AZN 10 million ($12.7 million) before the second half of 2014, reports Forinsurer.

Museib Aliyev, chairman of the board at AtaSigorta, said the insurer would also expand its branch network as it looks to have a presence across Azerbaijan. Plans include opening a branch in the city of Baku and another one in the country's northwestern region later in 2014.

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