SEMURG INSURANCE Fined 24.5 Million Soums in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — Joint Stock Company SEMURG INSURANCE has been fined 24.5 million soums, the press service of the National Agency for Perspective Projects of Uzbekistan said.

The penalty was imposed in accordance with the Law of the Republic of Uzbekistan “On Insurance Activities,” item 1 of the appendix to the Regulation on the Procedure for Applying Penalties to Insurers (registration number 3512 dated 10 May 2024), and the decree of the National Agency for Advanced Projects.

SEMURG INSURANCE JSC was established in 2020 and obtained a license in the same year to conduct activities across 17 types of voluntary insurance.

The fine is intended to ensure compliance with legislation and enhance transparency in the operations of the insurance company.