Azerbaijan to register insurance broker Sinko Grup Azerbaijan

Business Materials 22 July 2009 17:07 (UTC +04:00)

Azerbaijan, Baku, Jul.22 Trend U.Ismayilova /

Insurance and reinsurance broker Sinko Grup Azerbaijan received an unlimited license from the Azerbaijani Finance Ministry on July 20to conduct the insurance broker activities, the ministry told on July 22.

The ministry issued an unlimited license to Sinko Grup Azerbaijan closed joint-stock company in accordance with the law on Azerbaijani insurance activities.

The state register of Azerbaijani Cabinet of Ministers registered 7 insurance and reinsurance brokers including three individuals and four enterprises. 

Some 28 insurance and 1 reinsurance company act in Azerbaijan. The companies gathered 79.89 million manat in premiums, with payment of 24.65 million manat.

On July 22, the official exchange rate is 0.8041 manat to $1.

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