Uzbek Finance Ministry suspends license of insurance firm

Finance Ministry of Uzbekistan suspended the license of Toshkent Sugurta LLC Insurance Company from 20 August 2007.

UzReport.com reported Uzbek Finance Ministry suspended the license for insurance activity of the company for the period of ten days starting 20 August 2007.

The report said the license was suspended due to non-compliance of the firm with the solvency norms set by the legislation of Uzbekistan.

No further details were provided. Finance Ministry of Uzbekistan regulates insurance market through its State Insurance Inspectorate.

Currently, the number of insurance companies in Uzbekistan made up 28, of which 26 are operating. Two companies are in self-liquidation process.