The Azerbaijani insurance company AXA MBASK will terminate its activity and will be liquidated, based on the decision of its management, Trends reported with reference to the State Tax Service under the Ministry of Economy of Azerbaijan.

The insurer is owned by the Spanish subsidiary AXA Seguros Generales, S.A., De Seguros Y Reaseguros of the French AXA group. AXA MBASK was registered in 1992, provided Motor Hull, property, cargo, travel insurance, as well as medical insurance services. Its charter capital is AZN 20.5 million (~EUR 9.83 million*).

* at the following exchange rate:

1 EUR = 2.0854 AZN (05.01.2021)