Licenses of two insurers and 13 insurance agents revoked

Baku. 18 October. REPORT.AZ/ Upon the decision of the Management Board of the Financial Markets Supervisory Authority (FIMSA), the licenses of two insurers and 13 insurance agents have been revoked and new licenses have been granted to 8 people.

Report informs citing FIMSA that licenses of Silk Way Insurance, Azerbaijan Industry Insurance and 5 insurance agents have been revoked.

Upon the relevant decision of FIMSA, the licenses of people, who had not submitted the quarterly reports, had been revoked for the months. Licenses of those 8 people were abolished due to the fact that these people have not eliminated the cases causing cancellation of the licenses since that time.

Under the same decision of the FIMSA, 8 insurance agents passing the attestation were granted licenses.