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Azerbaijani insurance company renews license

Azerbaijani insurance company renews license

“Azerbaijan Investment Company”, “VPS Healthcare” company sign Memorandum of Understanding (08 February 2017 20:46)

Date: 21 December 2015 11:07

Baku, Azerbaijan, Dec. 21

By Anvar Mammadov – Trend:

Azerbaijani PASHA Life insurance company has received a perpetual license for insurance activity, said the message of the company.

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This is due to the expiration of the previous license issued to the insurance company in 2011.

The charter capital of PASHA Life rose by 5.75 times since the beginning of its activity - up to 40.25 million manats. During 11 months of 2015, PASHA Life insurance fees totaled nearly 51 million manats, and the company ranked second on this indicator.

Life insurance market in Azerbaijan began to form since 2011. Three insurance companies have license for life insurance in Azerbaijan - PASHA Life, Ateshgah Life and Qala Life.

There are 27 insurance companies and one reinsurance company in Azerbaijan.

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