Azerbaijan, Baku, Dec.8 / Trend, I.Ismayilova /
The Azerbaijani MBASK insurance company has been renamed to AXA MBASK, the Azerbaijani Finance Ministry's State Insurance Supervision Service said today.
The license issued to the company on Dec. 7, 2007 was also updated.
The renaming of the company is due to the French AXA Group insurance company's purchase of the controlling stake MBASK.
MBASK has operated on the Azerbaijani insurance market since 1992. It offers 29 types of insurance services, four of which are compulsory. Its authorized capital is 5.73 million manat.
AXA provides life and health insurance, contribution, international insurance and reinsurance, and financial management services.
AXA was founded in 1816 and is headquartered in Paris. AXA employs 216,095 people and has 96 million customers worldwide.
According to Fortune magazine, AXA ranks ninth in the list of the 500 largest companies in the world.
The official exchange rate is 0.7993 manat to $1.