One more insurance company leaves Azerbaijani market

Economic Department
Post's author

Baku. 8 November. REPORT.AZ/ Azergarant Insurance OJSC has suspended its activity.

Report informs citing the company.

According to information, leaving the market is due to lack of capital. The company's 100% shareholder and Chairman of the Board of Directors, Ogtay Abbas Aliyev adopted a decision to suspend the activity as couldn't solve the problem.

A commission has been established to fulfill obligations by Azergarant Insurance. The commission is led by Chairman of the Managing Board, Rashad Ahliman Mammadov.

Notably, Azergarant Insurance is a legal successor of the "Şərqə Qapı Sığorta" LLC, established in 1993.

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