License of major Uzbek insurance company suspended
Baku, Azerbaijan, July 11
By Fikret Dolukhanov – Trend:
The license of the Uzbek insurance company Kapital Sug’urta has been suspended, the Ministry of Finance of Uzbekistan said in a statement.
The corresponding decision was made by the Ministry of Finance in the part of compulsory insurance. The license series SF No.00208, issued to Kapital Sug’urta on December 30, 2015, will be renewed on July 13.
The Ministry of Finance did not disclose the reasons for the suspension of the company's license.
There are about 30 insurance companies operating in Uzbekistan. The 10 biggest insurance companies of the country hold 76.4 percent of the market. Kapital Sug'urta JSC is the 10th largest insurance company of the country by the size of insurance payments (6,349.6 million soums).
(7813.42 soums = $1 on July 11)
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