Pay-outs by liquidated Azerbaijani insurance firms exceed 400,000 AZN
Baku, Azerbaijan, Sept. 12
By Anvar Mammadov – Trend:
In January-July 2017, liquidated Azerbaijani insurance companies paid out 405,120 manats under their remaining liabilities, the Financial Market Supervisory Authority said Sept. 12.
Pay-outs by Azerqarant insurance company amounted to 1,340 manats.
International Insurance Company paid out 403,780 manats.
Since the licenses of these insurance companies were revoked by Azerbaijan’s Central Bank, they did not collect any insurance premiums during the period.
Parts of these two companies’ active insurance portfolios were transferred to Gunay insurance company.