New chairman of AZInsurance board of directors appointed (UPDATE)
details added (first version posted at 9:57)
Baku, Azerbaijan, Jan. 27
A new chairman of AZInsurance company's board of directors has been appointed upon a decision of the general meeting of shareholders, the company said Jan 27.
Alexander Kananadze has become a new head of the board of directors. Earlier, he was AZInsurance's first deputy chairman of the board of directors. Earlier, Shadiya Amanova held the position.
AZInsurance's board of directors includes Ziya Talibov (from the previous convocation) and Murad Ahmadov.
The Board of Directors is elected for a term of one year.
Alexander Kananadze graduated from the Bauman Moscow State Technical University and got an MBA in finance. Kananadze has a 15 year-experience in the insurance business. He held the managerial positions in the world's largest insurance companies - Allianz and Zurich Insurance Group.
Kananadze joined AZInsurance's team in November 2015. Kananadze has taken up a new position since January 16, 2016.
AZInsurance has been working on the Azerbaijani insurance market since 2006. It has branches and representative offices in many districts of the country, namely, Sumgait, Ganja, Lankaran, Shirvan, Sheki, Gabala, Tartar, Yevlakh and Shamakhi.
According to the State Insurance Supervision Service under the Azerbaijani finance ministry, the company's charges amounted to 32.76 million manat in 2015 with payments in the amount of 7.9 million manat. The company's insurance charges decreased by 10.85 percent, while payments - by 19.2 percent in 2015.
The official exchange rate is 1.6050 AZN/USD Jan 27.