The new board of Azerbaijani insurance company Alfa Insurance (AS), part of Azerbaijani TexnikaBankm, has been formed. The insurer reports that the new chairman of the board appointed Jamal Aliyev, who succeeded Ibrahim Ibragimov, dismissed by the Board of Directors' decision.

"Zair Salakhov became his deputy chairman and Alihuseyn Gasimov a board member," the company informed.

Members of the AS new board were previously employees of the International Insurance Company of Azerbaijan.

Previously, the position of chairman of the Board of Directors was appointed Elshad Aliyev. Prior to joining Alfa, Aliyev was the IIC deputy chairman.

Currently Alfa Insurance, together with TexnikaBank, is going through a process of internal restructuring and modernization activities. In turn, the IIC delegated in Alfa a large group of its experts.

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AZERBAIJAN: New composition of Alfa Insurance's Board formed