Baku, Azerbaijan, April 21
By Emin Aliyev - Trend:
The Azerbaijani insurance company "Ateshgah Heyat" JSC has become the third life-insurance company entering into the bureau of compulsory insurance.
"The company was incorporated in the register of the bureau on April 17," the bureau reported.
The Compulsory Insurance Bureau was established in Azerbaijan in accordance with the law on "Compulsory types of insurance"
In accordance with the amendments introduced to the insurance legislation of Azerbaijan in the 2013, compulsory insurance against accidents at work and occupational diseases, which is carried out in the country by life-companies included in the list of compulsory insurance regulated by bureau.
Some two out of three operating life companies in the country - "Pasha Hayat" and "Gala Hayat" have been included in the registery of the companies participating in the compulsory insurance bureau.
Pasha Sigorta, Ateshgah Sigorta, Ata Sigorta, AXA MBASK, Xalq Sigorta and Standard Insurance are the founders of the bureau.
The membership fee for life insurance companies is set at 200,000 manat - the same as for the other participants in the bureau, according to the approved standards by the Ministry of Finance. The size of the deposit, which the company should make on compulsory insurance against accidents at work and occupational diseases, - 100,000 manat.
Besides contributions to participate, obtaining permits, as well as deductions in the amount of 5 percent of each transaction during the activity, additional payments (transfer to the security deposit, payment calendar and several others) will be carried out.
"Ateshgah Həyat" OJSC was established in early 2008. Its only founder is "Ateshgah" insurance company (stock-holders: I.S.R. Holding Ltd, SOCAR and RAN-Eksim).
In total, there are some 28 insurance companies and one reinsurance company operate in Azerbaijan.
The official exchange rate on April 18 is 0,7843 AZN / USD.