Shareholders of Azerbaijani insurance company change

Business Materials 21 July 2017 12:20

Baku, Azerbaijan, July 21

By Azad Hasanli – Trend:

Azerbaijani Quna LLC company has obtained a 8.9-percent share in Azerbaijan’s Qala Life insurance company, according to the Azerbaijani company’s balance sheet.

Quna obtained shares from one of the shareholders – Nizami Mahmudov.

Earlier, Mahmudov’s share was reduced from 11.4 percent to 8.9 percent as a result of increasing the capital by 2.86 million manats, carried out by another shareholder – the AzRe reinsurance company.

Currently, Qala Life’s shareholders are: AzRe reinsurance company (91.11 percent) and Quna (8.9 percent).

Qala Life insurance company has been operating in Azerbaijan since 2010 and is one of the country’s three companies which render life insurance services.