Tashkent, Uzbekistan (UzDaily.com) -- The National Agency for Prospective Projects of Uzbekistan fined and suspended the license of the insurance company KAPITAL SUG’URTA for 10 days.

The agency notes that when studying the company’s financial statements, facts of non-compliance with the standards established by law were revealed.

As a result, a fine in the amount of 162.0 million soums was imposed on the insurance organization.

In addition, by the law, the Agency suspended the license issued on 22 November 2022 No. 049696 for 10 days - from 11 January 2024.

During the period of suspension of the license of KAPITAL SUG’URTA JSC, it is prohibited to enter into new and renew existing insurance (reinsurance) contracts.

At the same time, the insurance company must, in the prescribed manner, fulfill its obligations under previously concluded insurance (reinsurance) contracts.