BAKU, Azerbaijan, June 24. The license of Azerbaijan's Gunay Insurance Company has been revoked, Trend reports.
"In accordance with Article 107.1.1 of the law of the Republic of Azerbaijan "On insurance activities" by the decision of the Board of the Central Bank of the Republic of Azerbaijan dated June 24, 2023, license No. 042483 dated August 14, 2008, issued to the Gunay Insurance Open Joint Stock Company for insurance activities, was revoked," the bank said.
Previously, a license of Gunay Bank OJSC was canceled on May 17, 2023.
Currently, there are 19 insurance companies working in Azerbaijan, including such as AzInsurance JSC, Ateshgah Insurance JSC, Silk Way Insurance JSC, A-Group Insurance JSC, Xalq Insurance JSC, Ata Insurance JSC, Baku Insurance JSC, Azerbaijan Industrial Insurance JSC, AzerInsurance JSC, Mega Insurance JSC, Qala Insurance JSC, Pasha Insurance JSC, Nakhchivan Insurance JSC, etc.