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    Alfa Insurance declares bankrupt

    Insurance company, which license revoked, doesn't pay for insurance accidents yet

    Baku. 6 September. REPORT.AZ/ Alfa Insurance OJSC, which license revoked, doesn't pay for insurance accidents yet.

    Report was told at the company.

    According to the information, in accordance with the decision of the Baku Administrative Economic Court No. 1 on August 29, Alfa Insurance has been declared bankrupt. Liquidation Commission is being established in the company.

    'In case of insurance accidents we draw up an act and turn. The company's assets will be sold as the Liquidation Commission begins its activity and liabilities will be implemented', the company notes.

    Notably, the Financial Markets Control Chamber has revoked the license of Alfa Insurance on August 26. The reason was termination of the license of 'Bank Technique' OJSC, which was 100% shareholder of the company.

    However, Azerbaijan Deposit Insurance Fund, which is the liquidator of the bank, adopted a decision to sell Alfa Insurance to fulfill the credit organization's liabilities, the company wasn't acquired. Therefore, license of the insurance company has been revoked. 

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