Bank Of Baku

Afdandil Hajiyev: “Efficiency of Azer-Asia Company has not justified itself”

Afdandil Hajiyev: “Efficiency of Azer-Asia Company has not justified itself”
# 29 December 2010 13:53 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. “Azer-Asia” Iran-Azerbaijan insurance company has passed a decision on stopping activity of company, officially at the last meeting of shareholders, Deputy Chairman of Board of Directors Aftandil Hajiyev told APA.

To him, though Iranian shareholders have not agreed with abolishment of the company, they had accepted it thereupon. “Azer-Asia” was established in 1997 and main shareholder of it is “Azer-sigorta” company (51%). The company has got around AZN 10 000 profit from that time until 2008, and it had enough for meeting the expenses. “In general, the company had not economic productivity, as well as sufficient YTM. At present, licence on insurance operation has been abolished”, he added.

Remind that, “Azer-Asia” insurance company has been in operation since 1997.
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