Azerbaijani AXA MBASK shareholders to reconsider directors board’s composition
Baku, Azerbaijan, Nov. 8
By Abbas Akhundov - Trend: The shareholders of the Azerbaijani insurance company AXA MBASK will reconsider the composition of the company's Board of Directors, the AXA MBASK's message said on November 8.
This issue will be on the agenda of the general meeting of shareholders to be held on December 9.
In October 2010, the MBASK insurance company changed its main shareholder. The controlling stake in the company (51 per cent) was acquired by AXA Group (France) through its subsidiary AXA Seguros Generales, S.A, De Seguros Y Reaseguros (Spain). On December 7, 2010, MBASK's licence was updated to AXA MBASK due to the change of the company's name.
The capital's structure changed in summer 2013 and today 84 per cent of the company's share capital belongs to AXA Group and 16 per cent belong to individuals.
To date, the authorised capital of AXA MBASK is 8.73 million manats.
The official exchange rate on Nov. 8 is 0.7843 AZN/USD.