Azerbaijani insurer's shareholders change
Azerbaijan, Baku, March 19 /Trend A.Akhundov/
The Azerbaijani Zamin bank has become a shareholder of the local insurance company Başak İnam Sığorta, the company told Trend on Monday.
"The decision to join the company's shareholders was taken at a meeting of the supervisory board of the bank in December. The bank became the shareholder after the increase of the company's capital in January," the company said.
After the appearance of a new participant shareholders formed in the following manner: 19.95 percent of shares account for Zamin bank, 48 percent - individuals, 17 percent - Groupama Sigorta A.Ş. (Turkish subsidiary of the largest European insurance company Groupama), 8,5
percent - Turanbank, 6 percent - AzerTürkBank, non-bank credit organization Aqrarkredit - less than one percent.
The company increased the authorized capital up to 6 million manat in early January. Başak İnam Sığorta has been operating in the insurance market of the country since 1996.
The official exchange rate on March 19 is 0.7863 AZN/USD.