Azernews.Az

BAKU – AXA MBASK, a Baku-based private insurance company, has offered business people and those engaged in the insurance sector to open an insurance agency under its brand, the company said on Thursday. The proposal is part of its plan on boosting retail sales through a network of insurance agencies.

AXA Group, the world’s biggest insurance company, operates in 57 countries, mainly in western Europe, North America, the Asia-Pacific region and the Middle East. The company provides assistance in opening insurance agencies and cooperates with these agencies over the long term, making a significant contribution to increasing their profitability.

AXA MBASK said it was ready to provide consulting services and assistance on all matters pertaining to legislation regulating the work of insurance agents, and runs a special center for this purpose.

It said those seeking to open an insurance agency in the capital Baku or other cities of Azerbaijan may fill out an application that is available on the company’s website and submit it to any of AXA MBASK offices.

In October 2010, AXA Seguros Generales, an AXA subsidiary, acquired 51 percent of stock in MBASK by buying shares from the European Bank for Reconstruction and Development, as well as part of the shares owned by MBASK’s other main shareholder Eldar Garibov.