Azerbaijani insurance company joins ATIB

The Azerbaijani Insurance Company AXA MBASK became a full member of the Azerbaijani-Turkish Businessmen Association (ATIB), the company said on Friday.

"The company became an ATIB member this week, after sending a request to the organization," the company said.

The main purpose of entering into the membership of the ATIB is cooperating with other ATIB members, as well as provision of consulting and insurance services, a source in the company said.

The ATIB was established in April 2004. It brings together more than 70 companies operating in manufacturing, services and financial sector. The companies that are members of ATIB, invested more than $3 billion in Azerbaijan’s non-oil sector.

The insurance company MBASK changed its main shareholder in October 2010: AXA Group (France) acquired the controlling parcel of shares (51%) through its affiliated company AXA Sequros Generales, S.A, De Sequros Y Reasequros (Spain).

AXA Group is the world’s leader in financial protection and operates in 57 countries with the biggest concentration of business in Europe, North America and the Asia/Pacific Region.


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