New company on life insurance established in Azerbaijan

New company on life insurance established in Azerbaijan
# 01 April 2011 13:58 (UTC +04:00)
Baku. ELnur Huseynguluyev – APA-Economics. New company on life insurance – Standard Life Insurance is established, Director of department of marketing and advertising of group of the companies "AB Standard" Gunduz Babayev told APA.

According to him, the founder of new company may be AB Standard or Standard Insurance.

Standard Insurance has already applied to Ministry of Finance for establishment of new company. Head of sector of State Insurance Supervisory Service under the Ministry of Finance Mahir Abdullayev has affirmed the fact.

Note that, authorized capital of Standard Life Insurance makes AZN 5 mln.

Remind that, Standard Insurance has been in operation since 2002. THE company operates 2 representations in Baku and regions. Besides, it operates 5 compulsory and 24 voluntary insurance types.
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THE OPERATION IS BEING PERFORMED