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Azerbaijan grants termless license to one more insurer

Azerbaijan grants termless license to one more insurer

18 September 2008 14:42 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijanâ€™s Ministry of Finance has issued a termless license to Star Alliance Insurance Company.
The ministry said the insurer was granted a termless license under the new Insurance Law.
Termless licenses were before that granted to Kavkaz Insurance, Azerqarant Insurance and Gunay Anadolu which applied for renewal of their expired license.
Star Alliance has been in operation since 1998.
As of July 1, the companyâ€™s authorized capital stood at AZN 1.961 million. The company provides 14 voluntary and 2 compulsory types of insurance services.

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