Azerbaijan, Baku, July 31 /Trend I.Khalilova/
Azerbaijani insurance company Temza Sığorta Qrupu has been renamed to Buta Sığorta as of July 26.
The rebranding of the company occurred in connection with a change in the composition of its shareholders.
Now the company has six shareholders - Bank of Baku, Baku Electronics, Baku Service Company, Auto Azerbaijan and Qafqaz Lizinq which own a 19 per cent share each and NAB Holding with a five per cent of participation, new chairman of the board Abbas Babaev, who previously held a similar position in AzSigorta and Qala Sigorta, said.
Previously the owner of 49 per cent stake in the company's capital was the British Glencarron Group Limited. Temza Sığorta Qrupu has operated in the insurance market of Azerbaijan since 1996. The Azerbaijani share of participation was owned by the individual and legal entity, Gala Investment.