Tashkent, Uzbekistan (UzDaily.com) -- The National Agency for Prospective Projects of the Republic of Uzbekistan suspended the license of the insurance company Kafolat Hayot Insurance from 7 November.

“By the decision of the National Agency for Prospective Projects of the Republic of Uzbekistan, from 7 November 2023, the license issued on 21 January 2022 SF 00026 to Kafolat Hayot Insurance JSC was suspended for 10 days,” the agency notes.

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

Kafolat Hayot Insurance is obliged to fulfill its obligations under previously concluded insurance (reinsurance) contracts in accordance with the established procedure.