NAPP applies sanctions against Global Insurance Group

Tashkent, Uzbekistan (UzDaily.com) -- National Agency for Prospective Projects (NAPP) applied sanctions against the insurance company Global Insurance Group after analyzing its financial statements, which revealed violations of the standards established by law.

NAPP noted that the company was fined in the amount of 62 million soums, and its license was suspended for 10 days.

During the period of suspension, the company is prohibited from entering into new or renewing existing insurance contracts.

At the same time, Global Insurance Group is obliged to fulfill its obligations under previously concluded contracts within the established time frame.