Tashkent, Uzbekistan (UzDaily.com) -- The National Agency for Prospective Projects suspended the license of DD General Insurance for six months, the press service of NAPP said in a statement.

“By the decision of the National Agency for Prospective Projects, from 17 November 2023, the license issued on 25 February 2022, series SF 00034 of DD General Insurance, was suspended for six months,” the agency said in its statement.

The license was suspended based on the licensee’s request in order to eliminate shortcomings in the company’s activities, including ensuring compliance with prudential standards established by the legislation on insurance activities of the Republic of Uzbekistan.

During the period of suspension of the license of DD General Insurance, it is prohibited to enter into new insurance (reinsurance) contracts or extend the validity of existing insurance (reinsurance) contracts.

At the same time, DD General Insurance is obliged to fulfill its obligations under previously concluded insurance (reinsurance) contracts in the prescribed manner.