The license for professional activity of another insurance company has been suspended. According to the website of the State Insurance Supervision Service under the Ministry of Finance, it is Bashak Inam Sigorta.
The order of the Minister of Finance shows as the cause the discrepancy of the level of the insurer’s aggregate capital with the minimum requirements.
Bashak Inam Sigorta was established in 1996. The authorized capital is equal to 6 million manat. In January-September this year, its premiums totaled 2,282,700 with payments of 907,000 manat. --17D-
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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