Azerbaijan, Baku, April 30 / Trend A. Akhundov /
A new player in the Azerbaijani insurance market, the Royal Sıgorta Company is considering a proposal to join the Azerbaijani Association of Insurance Companies, the company's chairman Nusrat Babayev told Trend today.
The State Insurance Supervision Service under the Finance Ministry issued a licence for Royal Sıgorta for five-year insurance trading on December 28, 2011. Royal Sıgorta passed the state registration on October 11, 2011. There are five founding members of the insurance company.
"We have received a proposal from the association and are now considering it," he said.
About 28 insurance and one reinsurance companies operate in Azerbaijan. All except Royal Sıgorta, are the members of the association.