17:12 - 2.05.2018

---

May 2, Fineko/abc.az. Payment of claims of second-turn creditors of Alfa Sigorta, whose license was liquidated by a relevant decision (26 August 2016) of the Board of Directors of the Financial Markets Supervision Chamber has been started from 30 April of the current year. The second-turn compensation payments relate to losses incurred as a result of insured events on types of personal insurance.

Insurance compensations on claims of first-turn creditors were paid by the Compulsory Insurers’ Bureau on the basis of the Law on Compulsory Insurance.

It should be noted that by the decision of the Baku Administrative Economic Court #1 from 29 August 2016 Alfa Sigorta OJSC was declared bankrupt, and bankruptcy procedure was initiated. During this period the register of claims of Alfa Sigorta’s creditors was made. The register was approved by court. As a result, the issue was considered at the Supreme Court of Azerbaijan.

The process of liquidation of the insurance company is ongoing.