Baku, Azerbaijan, Aug. 11
By Anvar Mammadov – Trend:
Active portfolio of Azerbaijan’s Basak-Inam Insurance OJSC, which is preparing for voluntary liquidation, will be transferred to another insurance company for management, a source in Basak-Inam told Trend.
“We have prepared a plan of voluntary liquidation of the insurance company and sent it to the regulator [Azerbaijan’s Financial Market Supervisory Authority], but have not yet received a response from it,” said the source.
In February, Basak-Inam shareholders appealed to the Financial Market Supervisory Authority regarding the company’s liquidation and the regulator responded positively to this request.
Basak-Inam Insurance OJSC was founded in 1994.
Twenty-two insurance companies currently operate in Azerbaijan.
