SOCAR to act as broker in local insurance market
The Central Bank of Azerbaijan has included another company in the register of foreign insurance brokers.
According to the information posted on the CBA - registry website, this is an anonymous company "SOCAR Sigorta ve Reasürans brokerliği", founded by the state oil company (SOCAR) in Turkey in 2022.
Headquartered in Istanbul, the company with its business center owned by SOCAR (SOCAR Plaza), entered the insurance market of Azerbaijan on April 24.
In other words, from now on, SOCAR will act as a broker in the local insurance market.t. Thus, the number of foreign brokers included in the CBA register has grown to 87.
Prior to that, SOCAR had been represented on the local insurance market. For example, 10% of the shares of the "Atəşgah Sığorta" company belong to SOCAR.
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