Azerbaijan, Baku, Nov 21 /Trend A.Akhundov/
Azerbaijani insurance company JSC Buta Sığorta (formerly Temza Sığorta Qrupu) has become an authorized member of the Azerbaijan Mortgage Fund (AMF) under the Central Bank, AMF told Trend on Wednesday.
Buta Sığorta became 21st insurance company, which has become an authorized member of the AMF.
In addition to Buta Sığorta, insurer-members' list of AMF includes: Azerbaijan's state-owned commercial insurance company Azərsığorta, Alfa Sığorta, Atasığorta, Atəşgah, Başak-İnam, Beynəlxalq Sığorta Şirkəti, AXAMBASK, Paşa Sığorta, Standard İnsurance, Bakı Sığorta, Xalq Sığorta, Az Sığorta, Qarant Sığorta, A-Qroup Sığorta Şirkəti, Atəşgah Həyat, Rəvan Sığorta, Meqa Sığorta, PAŞA Həyat Sığorta, İpək yolu Sığorta, Qala Həyat.
Thirteen appraisal companies and 27 banks are also members of the AMF.
Azerbaijani insurance company Temza Sığorta Qrupu has been renamed to Buta Sığorta. 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 said earlier.
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.