Azerbaijani insurance company shifts from of ownership
Azerbaijan, Baku, Feb.20 / Trend , U. Ismayilova / One of Azerbaijan's major insurance companies Atesgah Sigorta shifted its form of ownership from closed stock company to open stock company, an official source said.
This shift was envisaged in Law on Insurance Activity adopted in March 2008.
Atesgah decided to change its shareholders at a general meeting in February. I.S.R. Holding Ltd became a new stockholder of the company which purchased 49 percent stocks of Norcross company which is included to "Capital" insurance company. Other 30 percent belongs to SOCAR and 21 percent to RAN-Eksim company.
Atesgah is the first company which opened subsidiary Life-company Atesgah Heyat. The company was established as a result of portfolio exchange between Atesgah and Kavkaz Sigorta which belong to the staff of ISR Holding company.
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