Baku, Fineko/abc.az. The Azerbaijani Ministry of Finance has restored validity of a license of one more of  three insurance companies of the country, which were refused in license extension.

The Ministry’s  Insurance Supervision Service reports that the insurance license of Azal Sigorta was resumed by finance minister’s relevant order from June 21  2010.

“The company provided abolishment of all  shortages, which was reason for suspension of activity of its license,” it was informed.

By Ministry’s order from 7 May 2010, validity of licenses of domestic insurers Gunay Sigorta, Azal Sigorta and Amrah Sigorta was halted in accord with the Law on Insurance Activity.

Earlier, the MoF made a similar decision on another insurer Azinvest Sigorta which was refused in extension of license for insurance activity.

After renewal of activity of the licenses for Azal Sigorta OJSC (on June 21) and  Amrah Sigorta  OJSC (on May 25), the country is numbering 26 insurance companies with valid licenses currently. The  figure was 28 before.

23.06.2010 14:25