Azerbaijan, Baku, 3 April / Trend corr. U.Ismaylova / The largest Azerbaijani insurance company Pasa Sigorta is to open the daughter Life-company envisaged by the new Bill on Insurance activity, which came into force in mid-March, Nofal Rzayev, the Director-General of the company, stated.
The new Bill came into force on 15 March. The Bill defines main directions and principles to develop the insurance system, specialized participants of the market, insurers and re-insurers, and also defines the economic grounds and right of state insurance regulators and supervisors.
Today, the company insures the life of employees of about 10 largest foreign companies in Azerbaijan. "The company is currently studying the passed Bill on life insurance," Rzayev said.
Pasa Sigorta has been operating in Azerbaijan since March 2006. The company provides 29 types of insurance. In 2007 the company received a certificate from Moody International Certification Services. The authorized capital of the company is AZN 4mln.
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