Chief banker: Ravan Sigorta has capital deficit


June 1, Fineko/abc.az. The situation of insurance companies has been studied in Azerbaijan in connection with the closure of several banks.

ABC.AZ reports that the relevant statement was made at today’s press conference by Central Bank’s chair Elman Rustamov.

He noted that bankrupt Atabank’s insurance company Atasığorta is in a completely healthy state. The chief banker, however, did not rule out that there are certain shortcomings in Amrahsığorta (the insurance company of another closed bank, Amrahbank):

"But it is at the level allowed by law. And Ravan Sigorta, the insurance company of closed NBC Bank, has a significant capital deficit. Both insurance companies were given a short time to fully recover their capital within a month or two. Their current capital is sufficient for their operations. But in order to achieve the full required capital, they have serious requirements and must meet them. Otherwise, we’ll take steps against them," he emphasized.