Azer-Asia Insurance JV to be OJSC

Azer-Asia Insurance JV to be OJSC
# 16 May 2007 13:16 (UTC +04:00)
Azerbaijan-Iran joint venture Azer-Asia intends to shift its legal status to Open Joint Stock Company in June.
The Company told APA-Economics that the paperwork will soon be submitted to the Ministry of Justice after negotiations with Iranian shareholders are complete.
Azer-Asia Insurance JV was established by Iran’s Asia Company (49%) and Azerbaijan’s Azersighorta State Commercial Company (51%) in 1997.
The Company provides 7 voluntary and 2 compulsory insurance services. As of April 1, its authorized capital reached AZN 1.173 million. /APA-Economics/

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THE OPERATION IS BEING PERFORMED