Azerbaijan creates new insurance company
Azerbaijan, Baku, Nov.3 / Trend, I. Khalilova /
The Azerbaijani Tax Ministry has registered the Royal Sigorta insurance company with an authorized capital of 5.5 million manat.
The company was registered on Oct. 11. Nusrat Babayev is its legal representative. The supervisory board consists of - Shahbaz Shahbazov, Famil Teymurov and Farman Huseynli.
The founders of the insurance company are five physical entities.
As Deputy Chief of the State Insurance Supervision Service Mahir Abdullayev told Trend on Thursday, Royal Sigorta has already appealed to the ministry for permission to offer insurance on the market.
"Preliminary permission to establish the company is already available, and it is expected to issue a license within a month," he said.
Royal Sigorta will focus on insurance types that are not associated with life insurance, Abdullayev said.