Bank Of Baku

Azerbaijan grants a termless license to Amrah Sighorta

Azerbaijan grants a termless license to Amrah Sighorta
# 26 November 2008 07:33 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Azerbaijan’s Ministry of Finance has issued a termless license to Amrah Sighorta Insurance Company.
The Ministry of Finance said insurance companies are granted a termless license under the new Insurance Law.
Prior to this, the Ministry of Finance granted termless licenses to AzerGarant, Kavkaz Sighorta, Amrah Sighorta, Gunay Anadolu and MBASK.
Amrah Sighorta has been in operation since 1993. MBASK is owned by EBRD (30%) and individuals. As of October 1, its authorized capital stood at AZN 700 000. The company earned AZN 380 000 in premiums and paid AZN 80 000 for during insurance claims January-September.
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