New insurance company registered in Azerbaijan
By Trend
The Ministry of Taxes of Azerbaijan has registered Mega Life Insurance, a company specializing in life insurance, the company told Trend.
According to the representative of Mega Insurance, the authorized capital of Mega Life Insurance is 11 million manats.
Mega Insurance began operating on October 1, 2010. In 2012, the insurance company received a perpetual license to carry out insurance activities in Azerbaijan.
Four companies in Azerbaijan have a license to provide life insurance services - PASHA Life, Ateshgah Life, Qala Life and Xalq Life.
In January-July 2019, the volume of the life insurance market in Azerbaijan amounted to 161.630 million manats, while that of payments to companies made up 65 million manats.
($1=1.7 AZN on September 23)
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