The number of companies participating in the Azerbaijan Insurers Association (AIA) has increased, Trend reports with reference to the AIA.

Mega Hayat OJSC, which recently entered the domestic insurance market and specializes in life insurance, has become the new member, the AIA said.

Its membership was confirmed at a meeting of the AIA supervisory board, the association noted.

As earlier reported, by the decision of the Board of the Central Bank of Azerbaijan (CBA) dated February 19, 2021, Mega Hayat OJSC was issued a license for a period of five years. Thus, the number of insurance companies in Azerbaijan increased from 19 to 20, including in the field of life insurance – from 4 to 5.

Source: TREND News Agency