Azerbaijan’s Xalq Life Insurance appeals for license
Baku, Azerbaijan, Nov. 28
By Taleh Mursagulov – Trend:
The Azerbaijani insurance company Xalq Life Insurance has appealed to Azerbaijan’s Financial Market Supervisory Authority (FIMSA) for obtaining an insurance license, a source in the Azerbaijani insurance market told Trend.
FIMSA provided the company with a list of necessary documents, the source said.
The source didn't specify when the document collection process will be complete.
Xalq Life Insurance passed state registration with a registered capital of 15 million manats. Official representative of the company is Deputy Chairman of Xalq Insurance Roman Valiyev.
If the insurance company receives a license from FIMSA, there will be four insurance companies in Azerbaijan rendering life insurance services.
Presently, there are three companies operating in life insurance in Azerbaijan - Ateshgah Life Insurance, Qala Life Insurance and PASHA Life Insurance.
(1.7 AZN = 1 USD on Nov. 28)
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