The reinsurance company AzRe Tekrarsigorta announced the price of the acquisition of 100% of the shares of the insurance company Chartis Azerbaijan. As local reporters were told by the Deputy Chairman Vusal Abbasov today, about $6.5 million was paid for the only foreign insurer.
According to him, preparations began for the new strategy of the company, including the rebranding. The representative of the sole reinsurance company assured that they have no plans to invest in the purchase of assets of other loss-making insurers.
Recall, Chartis Azerbaijan was a subsidiary of the corporation American International Group Inc. from January 1999 to October 2010. Then it was then bought by the British company Chartis. Its registered capital is 6 million 786.5 thousand manats.
AzRe with a registered capital of 40 million manats also owns the life insurance company Qala Heyat. --17D-
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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