Azerbaijani insurance company appeals to State Insurance Control to approve new chairman of board
Azerbaijan, Baku, June 9 / Trend U. Ismayilova /
On Tuesday, shareholders of the Azerbaijani Insurance Company MBASK held an extraordinary general meeting, chairman of the Supervisory Board Eldar Garibov said.
"The main topic of discussion was the final approval of the structure," he said.
He said that Elkhan Garibli was appointed acting chairman of the company. He was elected to this position a month ago. He was chairman of another insurance company Azal Sigorta from 2004 to 2009. Elkhan Garibli replaced Jamil Melikov, who is Deputy Director of State Agency for Alternative and Renewable Energy under the Azerbaijani Ministry of Industry and Energy.
At a meeting of shareholders on Tuesday, Roman Bandurin was appointed chief accountant of the company, and Rauf Atakishiyev became a member of the board members of the company, he said.
"The new chairman of the company Elkhan Garibli has already made an application to the Azerbaijani Ministry of Finance to pass certification. I think that his candidacy will be approved next weeks," he said.
MBASK has been operating on the current insurance market of Azerbaijan since 1992.
It provides 29 types of insurance services, four of which are compulsory. About 30 percent of MBASK's shares from January 2005 belong to the European Bank for Reconstruction and Development. The remaining shares are distributed among UniBank (20 percent) and five physical entities.
Premiums of the company in January-April amounted to 1.96 million manat, with payments worth 1.26 million manat.
On June 9, the official exchange rate is 0.8038 manat to $1.