Another insurance company liquidated in Azerbaijan

Insurance company Bashak-Inam has announced about its liquidation.

banks.az reports that company’s creditors can submit their claims within two months at the following address: AZE1141, Baku, Yasamal district, 79 Javid Avenue.

The license for insurance activity issued to Bashak-Inam on the basis of the decision of the Board of Directors of the former Financial Markets Supervision Authority (FIMSA) from 6 October 2017 has been canceled.

FIMSA’s decision was made as, according to Bashak-Inam’s reports submitted in 2017, its total capital was below the level established by law.