ISR Holding to Create Insurance Alliance in Azerbaijan
Azerbaijan, Baku, 11 October / Trend corr.U.Ismayilova /ISR Holding group of companies has corrected the plans in Azerbaijan's insurance market, and considers the possibility to purchase other two insurance companies, Iskandar Khalilov, President of the Holding, said.
At present, ISR is shareholder in the Atesgah Sigorta and Kavkaz Sigorta insurance companies.
"At present, we hold talks to purchase two new insurance companies," said Khaliov.
Khalilov refused from calling the name of companies that ISR Holding is to purchase.
ISR Holding started its promotion plans in insurance market of the country since 2008. In early 2008, holding has purchased 49% shares in Ateshgah's capital from Norcross company, which is united in the Kapital company's insurance group.
Ateshgah's current shareholders are ISR Holding Ltd (49%), SOCAR (30%) and RAN-Eksim (21%). Ateshgah was established in 1996. Company's authorized capital is AZN 900,000.
In summer, ISR Holding entered into the composition of the Kavkaz Sigorta insurance company's shareholders. Kavkaz Sigorta was established on the ground of the QafqazSigorta and New London Insurance LTD insurance companies in 2007. Company's authorized capital is AZN 1mln.
ISR Holding was established in 1995. The company has become one of the largest investment holdings in Azerbaijan. Company's main functioning is construction of business-centres, hotels and housing estates, oil products trade and their transport, as well as production of iodine.
On 11 October, the official currency rate is 0.8099 AZN/USD.
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