As APA reports, the paperwork will soon be submitted to the Ministry of Justice after negotiations with Iranian shareholders are complete.

Azer-Asia Insurance JV was established by Iran's Asia Company (49%) and Azerbaijan's Azersighorta State Commercial Company (51%) in 1997.

The Company provides 7 voluntary and 2 compulsory insurance services. As of April 1, its authorized capital reached AZN 1.173 million.