Bank Of Baku

Transforming of Azersigorta State Commercial Company into JSC discussed at appropriate state bodies

Transforming of Azersigorta State Commercial Company into JSC discussed at appropriate state bodies
# 31 May 2011 09:27 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Works on changing legal status of Azerbaijani State Commercial Insurance Company AzerSigorta are being continued, Section Head of Insurance Supervision Finance Mahir Abdullayev told APA.

To him, main reason of postponement of this procedure is connected with state’s participation in company’s share capital: “Some rules must be fulfilled for solution of status issues. At present, talks are conducted at appropriate state bodies related to this issue”.

Note that, in accordance with the law on insurance activity adopted on March 15, 2008, all insurance companies should be transformed into a JSC. As of today, except Azersıgorta, 27 insurance companies have already became into JSC.

Remind that, State Commercial Insurance Company AzerSigorta has been in operation since 1991. At present, the company functions on 10 compulsory and 20 voluntary insurance types.
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