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    Alfa Insurance's portfolio may be transferred to another insurance company

    Assets valuation of company, to be liquidated, started

    Baku. 30 September. REPORT.AZ/ Valuation of assets, including liabilities, insurance contracts of Alfa Insurance OJSC, which is in the process of liquidation, has started.

    Firdovsi Gasimov, temporary administrator, appointed to the company by the Financial Markets Control Chamber (FMCC) told Report.

    According to him, Alfa Insurance's liabilities will be implemented at the expense of payments of the organizations, indebted to the OJSC, as it has no any property to be sold: "In addition to the creditors, the insurer also has debtors. Currently, the amount due Alfa Insurance is being determining. After its payment, the company will implement its liabilities to the customers".

    F.Gasimov didn't excluded fully or in part transfer of Alfa Insurance's portfolio to another insurance company: "This version is being considered. Any insurance company must be paid in this regard. Perhaps these issues will become clear in next 1 month".

    Notably, the FMCC has revoked Alfa Insurance's license on August 26. The reason is cancelation of the license of Bank Technique OJSC, which was the OJSC's 100% shareholder. 

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