The portfolio of assets in liquidation of the insurance company Azergarant will be transferred to the company Gunay Sigorta.
According to Chairman of the Board of JSC Azergarant Rashad Mammadov, on this occasion the parties drafted a letter, sending it to the Supervisory Board of the Financial Markets Supervision House.
Given the bureaucratic procedures, it will happen in 2017, he said, adding the small size of the portfolio. "The shareholders decided to liquidate the company at a meeting in November. The obligations on hull car insurance have been annulled, property insurance policies are abandoned as well as policies for travels and some other positions," he said.
JSC Azergarant with registered capital of 5.61 million AZN has operated under the Ministry of Finance of Azerbaijan license since 1993. In 2008, it received a perpetual license. The only shareholder of the company is an individual.
As of November 1, the insurer received 323,019 manat with payments of AZN 987.79. --17D-
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