Azerbaijan, Baku, Oct. 17 / Trend A. Akhundov /
A new chairman of board of the Azerbaijani insurance company MBASK was appointed, Rashid Rasulov, the head of the company, said.
"According to the decision of the shareholders of MBASK insurance company, Yavuz Olken, representative of the Turkish branch of AXA Group, which became a new shareholder of the Azerbaijani company, was appointed chairman of the board," Rasulov said.
He said that the board of the company included new members - Jeyhun Gurbanli and Selcuk Adigezal appointed new finance director.
A strategic plan was not approved at the meeting," he said.
АXA Group subsidiary - AXA Seguros Generales acquired a controlling stake by purchasing the Bank's shares in capital of MBASK, where the bank owned 30 percent shares and 21 percent of company's principle shareholder Eldar Garibov.
Garibov will own the remaining share of 49 percent.
MBASK has been operating in the insurance market of Azerbaijan since 1992. It offers 29 types of insurance services, four of which are compulsory. The authorized capital is 5.73 million manat.
The headquarters of AXA Company founded in 1816 is located in Paris.
According to Fortune magazine, AXA occupies the ninth position in the list of 500 largest companies in the world.