State Insurance Commercial Company Terminated – Insurance Laws and Products

Decree dated and effective 31 January 2024 of the President of
the Republic of Azerbaijan terminates (liquidates) the State
Insurance Commercial Company of the Republic of Azerbaijan doing
business as Azərsığorta (Azarsigorta, Azersigorta)
State Insurance Commercial Company (or Azerbaijani Republic State
Insurance Company), tax ID: 1400079571.

The President of the Republic exercised the role of the
company’s general meeting as far as the company’s
termination (and re،ization) was concerned. Other roles of the
meeting were exercised by Azerbaijan Investment Holding (AIH).

The liquidation is reported to have been initiated by the
management and supported by the board of the company. It is further
reported the liquidation commission will be formed including
representatives of the Ministry of Finance of the Republic and AIH.
The creditors are expected to have at least 60 calendar days to
file their claims a،nst the company.

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