Amrah Sigorta founders look for a buyer – Is insurer under sale or close?


August 5, Fineko/abc.az. The matter of closing or sale of Amrah Sigorta is on agenda.

A reliable source has reported to ABC.AZ that Amrah Sigorta's founder company is currently considering the question of sale of the insurer.

"They are currently looking for investors to sell the company. After the closure of Amrah Bank, they are no longer interested in further activity of the company with low profitability. But, of course, time will show what final decision will be made. Amrah Sigorta's premiums used to be even lower earlier, but after the insurer participated in Casco Boutique Project its premiums increased sharply. If this cooperation is long-term, the company's market position may be strengthened. However, I don't think the founders intend to keep the company," the source said.

After the closure of Amrah Bank, clouds are hanging over the head of Amrah Sigorta. Some time ago, some experts did not rule out the possibility of insurance company’s closing. It is obvious that the assumptions of experts are increasingly justified, but the company’s founders think about selling the insurer more than about closing it.