Azerbaijan, Baku, Dec. 22 /Trend U. Ismayilova /
Azerbaijani insurance company JSC "Meqa Sigorta" does not exclude the possibility of attracting foreign investors to create a subsidiary Life-company, the company chairman Afgan Murtuzayev said.
According to him, in 2011 the shareholders of the company intend to explore the life insurance market and assess its profitability.
"Meqa Sigorta doesn't plan in 2011 to create a subsidiary company," Murtuzayev said.
According to the law on the "insurance activity" of Azerbaijan, from March 2011 the country should divide Life and Non-Life-companies. Azerbaijan has two Life-companies - Atesgah Heyat and Qala Heyat.
Azerbaijani Insurance Company Meqa Sigorta has been operating since October 2010, replacing the BE&G company in the market. With the change of shareholders, the company's shares are distributed among the seven physical entities. The company provides services on 26 types of voluntary and 4 types of mandatory insurances. Its premiums for January-November amounted to 0.29 million manat with payments of 0.21 million manat.