AZERBAIJAN: Amrah Sigorta to be liquidated

20 October 2020 — Marina MAGNAVAL
The insurance company Amrah Sigorta, which according to 1H2020 results ranked 17th in the Azeri market among 21 active companies, will stop its activity, as Trend reports.

The company's market share in the first half of the year was 0.29%, at that the growth rates exceeded 300% y-o-y. According to the company, on October 16 the management of Amrah Sigorta decided to terminate the activity and voluntarily liquidate the company. Amrah Sigorta also decided to suspend all current insurance contracts.

Amrah Sigorta's charter capital was AZN 5.3 million (~EUR 2.66 million*). The company provided Motor Hull, property, cargo, personal accident insurance as well as travel insurance services.

* at the following exchange rate:
1 EUR = 1.9896 AZN (17.10.2020)

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