Tashkent, Uzbekistan (UzDaily.com) — The insurance company SEMURG INSURANCE has been fined 31.5 million soums. This information was reported by the National Agency for Perspective Projects (NAPP).

According to the agency’s information, the fine was imposed on JSC SEMURG INSURANCE following an analysis of the company’s financial reports, during which violations of established legislative norms were identified.

Additionally, based on legislation and a decision by the National Agency for Project Management of the Republic of Uzbekistan, the license issued on 26 September 2023, under number 135840, has been suspended for a period of 10 days starting from 15 October 2024.

During the suspension of the license, SEMURG INSURANCE is prohibited from entering into new insurance (reinsurance) contracts and extending existing ones.

However, the company is required to fulfill its obligations under previously concluded insurance and reinsurance contracts in accordance with the established procedure.