Insurance Company Azerbaijan Industrial Insurance

Azerbaijan Sanaye Sigorta OJSC was established in the Ministry of Justice of the Azerbaijan Republic on December 17, 1996 by changing the organizational and legal form of CI Sigorta LLC and is its legal successor. At the end of 2008, according to the corresponding statement, the organizational and legal form of the Company was changed to Open Joint Stock Company. On May 24, 2010, the authorized capital of the company, which was registered with an authorized capital of 125,000 US dollars, reached 4,000,000 manats. On June 28, 2012, the State Insurance Supervision Service of the Ministry of Finance of the Republic of Azerbaijan allowed OJSC "Azerbaijan Sanaye Sigorta" to carry out activities on compulsory types of insurance in accordance with Article 4.4 of the Law of the Republic of Azerbaijan "On Compulsory Insurance". Thus, the Company was admitted to the Compulsory Insurance Bureau. On December 12, 2012, the authorized capital of the company was increased to 8,160,000 manats. 29 voluntary, 4 compulsory, 33 types of insurance services are provided by Azerbaijan Sanaye Sigorta OJSC, 95% of shares belong to Anadolu Investment Company LLC, 5% - to Azerbaijan Sanaye Bank OJSC. On December 26, 2014, the authorized capital of the company was increased to 11,000,000 manats due to retained earnings of previous years and was renamed into Azerbaijan Industrial Insurance OJSC in English. In 2016, Azerbaijan Industrial Insurance OJSC was awarded by Global Brands Magazine as “The best insurance company not related to life in Azerbaijan, 2016”, “The best insurance company in Azerbaijan, in 2017”, “The most reliable insurance brand in Azerbaijan, 2018 ”, according to the Finance Digest magazine. The magazine "Brand of Business Excellence-Azerbaijan 2016" and in 2017 OJSC "Azerbaijan Industrial Insurance" was awarded by the Ministry of Taxes of the Republic of Azerbaijan with international and local awards "Transparent Tax Partnership". The company is represented as a member in such organizations as "Bureau of Compulsory Insurance", "Azerbaijan Association of Accountants and Risk Professionals" and "Azerbaijan Association of Insurers".