As one of Azerbaijan’s newest generations of holding companies, Garant Holding has grown by leaps and bounds since its founding in 2005 as ZQAN Holding. Renamed in 2013, the company has grown into a multinational corporation with 7,000 employees and encompassing 33 companies, including those in the insurance, logistics and telecommunications business sectors.
In an overview of Anar Mammadov on his blog, the founder and Chairman of the Board of Garant Holding, shows the company has continued to expand its holdings since its establishment to include businesses in the areas of finance, hotels, real estate, construction, advertising and agribusiness. But, it is the business segments of insurance, logistics and telecommunications in which the company has been leading the way in recent years.
Since 2007, Qarant Siğorta, the “Insurance Company for Everyone,” has operated under the Garant Holding umbrella. Working with corporate and individual clients, experienced agents at Qarant Siğorta use a clearly defined system of principles and values to offer the highest quality customer service. The company offers four types of compulsory and voluntary insurance policies including car, mortgage, health, property, liability, cargo and overseas travel insurance.
In the area of logistics, Garant Holding is involved in the operations of MTrans, a fleet of long-distance travel, passenger vehicles, licensed under the Ministry of Transportation of the Republic of Azerbaijan. Since its establishment in 2005, MTrans has continued to expand its services to passengers, offering routes in all parts of Azerbaijan and in Russia, Iran and Turkey. In 2006, MTrans won the “Company of the Year” award a national recognition of its achievements. At the beginning of 2014, MTrans invested in new, large-scale buses and more automated processes to ensure the comfort and convenience of its passengers.
With the growth of the telecommunications industry, Garant Holding has remained on the forefront of mobile telephone and Internet services. Under the operation of the Ministry of Communications and Information Technologies, Garant Holding provides TransEuroCom, a company that offers mobile phone and online capabilities, such as unlimited Internet access services, digital communications services and telecommunication channels through a vast network of fibre optic cables.
Garant Holding is now considered to be one of the largest holding companies in Azerbaijan. Headquartered in Baku, Garant Holding also has offices in London, Geneva and Dubai, where it conducts business that has resulted in the company being a major factor in the positive progress of the socio-economic development of Azerbaijan.