New life insurer - Mega Life Insurance was registered by the Ministry of taxes of Azerbaijan. Charter capital of the new life insurer is AZN 11 million (~EUR 5.94 million), as Trend reports.

The company started its operations on October 1, 2010, and in 2012 got a permanent license for insurance activities in Azerbaijan.

As of now, only four companies in the country have licenses for life insurance - PASHA Life, Ateshgah Life, Qala Life Xalq Life.