Azerbaijan registers another insurance agency

Business Materials 5 May 2011 17:22 (UTC +04:00)

Azerbaijan, Baku, May 5 / Trend, A.Akhundov /

The Azerbaijani Tax Ministry has registered Ugur Sıgorta Agentliyi through the "single window" system, the ministry's official website reported.

The insurance agency's founder is Gulam Aliyev.

The agency's authorized capital is 50 manat.

The agency passed state registration on April 18.

Qarant Sigorta Agenti operates in the country, which was created in mid-2010. The main purpose for its creation is to develop the insurance culture among the population, expanding insurance business retail sales.

In early 2011, AXA MBASK signed its first partnership agreement with the Khazar agency.
Khazar has become the first agency with the full support of АХА MBASK.

The agency's activity will focus on work with physical and legal entities, as well as with financial and credit institutions.

AXA MBASK, a company with foreign capital, fully rebuilt its retail sales development model.

AXA MBASK expressed willingness to fully support local entrepreneurs wishing to deal with agent activity.

Ekskluziv Sigorta Agentliyi was also registered in March.

Agent activity becomes more profitable as insurance develops in Azerbaijan.

The official exchange rate is 0.7912 manat to $1 on May 5.