Azerbaijani insurance company changes shareholders structure
Azerbaijan, Baku, June 23 / Trend U.Ismayilova /
The Azerbaijani insurance company MBASK has changed its shareholders structure, the company reported.
"MBASK Principal Shareholder Eldar Garibov purchased the shares owned by Natella Mikuchadze, Jamil Malikov and KB Unibank by mutual agreement reached between the company's shareholders," the company reported.
As a result of the transaction, the shareholders structure has changed. Now the company's shareholders are Eldar Garibov (70 percent) and the European Bank for Reconstruction and Development (30 percent stake).
The change will not entail significant changes in strategy and operations of the company. The main priority of activity is still holding of the leading market position, forming a high level of customer service and a comprehensive approach to selling quality insurance products and services, the statement said.
MBASK has been operating in Azerbaijan since 1992. The company offers 29 types of insurance services, four of which are compulsory. Authorized capital is 5.73 million manat.
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