News

13.04.2010

Pasha Insurance has completed the process of growth of authorized capital

The Ministry of Taxes has registered the growth of authorized capital of “Pasha Insurance” OJSC up to 20 mln. manat. The growth of authorized capital of the insurer was made on reinvestment of the income of 2009 to the capital and additional investment by the company’s shareholders. Appropriate informational letter regarding the authorized capital growth was sent to The Ministry of Finance of Azerbaijan Republic. “Capital growth of Pasha Insurance was performed on the base of Company’s Board of Directors’ recommendations in frame of three-years development plan and in accordance with government policy on an encouragement of insurers’ capital growth. Current growth of the capital creates an opportunity for further strengthening of our facilities and equipments and increase of risk retention capacity. From the point of market development, we value the growth of capitalization as one of the important opportunities for further involvement of modern western insurance products to Azerbaijan insurance practice and realization of integration plans. Pasha Insurance welcomes the policy directed to the growth of capitalization of insurance companies and will continue increasing the capital in accordance with the results of current works” – noted Nofal Rzayev, Chairman of the Board, “Pasha Insurance” OJSC. Pasha Insurance, a member of Pasha Holding, provides its corporate and individual clients 31 types of insurance. Pasha Insurance enters into the leading top-three insurers of the country on capacity of the capitalization and level of profitability indicators of the business in insurance sector of the country. In 2007, Pasha Insurance has successfully passed the ISO 9001:2000 Quality Management System Certification process by British Agency of Moody International Certification Services. Pasha Insurance is involved in the UN Global Compact Initiative in the areas of human rights, the environment and anti-corruption.

13.08.2010

Pasha Insurance becomes fully-fledged IMIA member

The Executive Committee of the International Association of Engineering Insurers (IMIA) has approved a draft agreement on admitting Pasha Insurance Company to the IMIA’s fully-fledged .....

29.07.2010

Pasha Insurance has completed international management standard recertification

Pasha Insurance has completed the process of corporate management system recertification to the requirements of ISO 9001 International Standard renewed in 2008. Audit of Pasha .....

22.06.2010

Pasha Insurance and United Credit Bank have signed a medical insurance contract for bank employees

Pasha Insurance has been declared as a winner of the tender to assign the corporate medical insurer for United Credit Bank. Signed last week by .....

20.05.2010

Pasha Insurance finished the renewal process of the strategic energy projects policies

Pasha Insurance continues its services on the insurance of BP strategic energy risks under the projects “Azeri-Chirag-Guneshli” and “Shah Deniz”, as well as risks related .....

Main page