Azerbaijan, Baku, Feb. 24 / Trend , U.Ismayilova/
Azerbaijan's sole insurance company specializing in life insurance, Atesgah Heyat, will play an active role on the market come autumn, Chairman Azer Aliyev said on Feb. 24.
"In the first stage of actively entering the market, the company will develop new interesting products," he said.
Atesgah Heyat will not receive additional licenses from the Finance Ministry, he said.
Atesgah Heyat was established in January after a portfolio exchange between Atesgah Sigorta and Kavkaz Sigorta.
Atesgah Heyat's authorized capital is one million manat.
Establishing individual life-insurance companies is stipulated in Azerbaijan's Law on Insurance Activities passed in March 2008.
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