BAKU, Azerbaijan, Oct. 17
By Zeyni Jafarov – Trend:
The insurance company Amrah Sigorta OJSC will cease its activity, Trend reports with reference to the insurance company.
As reported, the management of Amrah Sıgorta decided to terminate the activity and voluntarily liquidate the company. This decision was made at the meeting of the general meeting of shareholders of Amrah Sigorta, held on October 16, 2020.
According to the decision, the company is preparing to send an appeal to the relevant structures, including the Central Bank of Azerbaijan and the State Tax Service under the Ministry of Economy, which are regulators of the insurance market. In addition, Amrah Sıgorta decided to suspend the current insurance contracts.
As a reminder, the Amrah Sıgorta license was canceled earlier by the decision of the Central Bank. Thus, Yunis and Amrah Yildirim, who controlled 85 and 15 percent of the shares of the insurance company, respectively, had 53.2 and 0.3 percent shares in the bank.
The authorized capital of the insurance company was 5.3 million manat ($3.1 million) and the company provided insurance services for cars (hull insurance), property, cargo, personal accident insurance, and also provided travel insurance services.
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