OREANDA-NEWS. April 15, 2011. Azerbaijan’s insurer PASHA Sigorta has transferred the gathered life insurance portfolio for AZN 300,000 to company PASHA Heyat Sigorta.

Under the Law on Insurance Activity, until 15 March 2011 in Azerbaijan life insurance companies should separate fully portfolios on life insurance and insurance of any other kind.

PASHA Heyat Sigorta started its activities on 15 February 2011. Its premiums for the past one and a half month exceeded AZN 3 million. Both companies are members of group of companies PASHA Holding.