Another insurer liquidated in Azerbaijan


August 12, Fineko/abc.az. Revan Sigorta applied to the Central Bank of Azerbaijan to cancel its license in connection with insurance activities.

ABC.AZ informs with reference to news agency Report.

There are currently no negotiations on the transfer of the accumulative portfolio of the company. Thus, for Jan-Jun 2020 Revan Sigorta's insurance premiums decreased by 16.5% (versus 2019 same term) to AZN 1.078 million, while insurance payments increased by 36.6% up to AZN 235,000.

The general meeting of shareholders of Revan Sigorta OJSC was held on 10 August. The agenda of the meeting included issues of voluntary liquidation of Revan Sigorta, applying to the Central Bank of Azerbaijan to cancel the license, creating a liquidation commission and liquidating the Ganja branch.