Details added (first version posted on 09:29)
Baku, Azerbaijan, May 12
The issue of liquidation of Buta Insurance OJSC, an asset of Turkey's NAB Holding, will be considered at the general meeting of the insurance company's shareholders, said the company's message published May 12 in Azerbaijani official media outlets.
It is noted that the meeting of shareholders will be held June 24.
Buta Insurance OJSC started its activity in 1996 (then it was called Anglo-Azerbaijan Insurance Company). Since 2000, the insurance company has continued its activities as the Thames Insurance Group. In April 2012, the company was acquired by Turkey's NAB Holding. By decision of the new shareholders, in July 2012, the insurance company was renamed to Buta Insurance.
Currently, shareholders of Buta Insurance are Bank of Baku OJSC, Qafqaz Leasing OJSC, Baku Electronics LLC, Auto Azerbaijan LLC and Baku Service Company LLC.