12:47 - 20.06.2025

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June 20, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) has cancelled insurance agent licenses issued to 9 individuals and 1 legal entity (Gateway Management Azerbaijan LLC).

ABC.AZ reports with reference to the CBA that the decision was made on June 18 in accordance with the Law on Insurance Activities.

The licenses of 3 individuals were cancelled on the basis of a voluntary application, the licenses of 4 individuals and 1 legal entity - due to non-elimination of the circumstances that led to the suspension of their licenses within the specified period, and the licenses of 2 individuals - due to the recurrence within 9 months of the circumstances that led to the suspension of licenses, and which previously they occurred twice within 12 months.