Central Bank froze licenses of 51 insurance agents

05.09.2022,16:37


September 5, Fineko/abc.az. The Central Bank has temporarily frozen the licenses of 51 insurance agents.

ABC.AZ reports with reference to the CBA that according to Article 106.1.10 of the Law on Insurance Activity, the Central Bank suspended for 3 months the validity of licenses given to insurance agents who are individuals by a decision dated August 31, 2022 because of the failure to submit a relevant report.

The Central Bank cancelled the license given to the insurance agent to 2 individuals on the basis of their voluntary appeals.