Global Insurance license suspended for 6 months

The National Agency for Promising Projects (MILA) has suspended the license of Global Insurance insurance company for a period of 6 months. This was reported by Zamin.uz.

This decision was announced on the agency's official website. The decision came into effect on November 8.

Based on this decision, the company will continue its activities under existing contracts. However, it does not have the right to enter into new contracts or extend existing contracts.

Earlier, in October, MILA suspended the company's license for 10 days and imposed a fine of 35 million soms. Last year, Global Insurance was fined a total of 72 million soms in August and April.

According to the insurance companies ranking published by Kursiv Uzbekistan in 2023, Global Insurance ranked 27th in the "General Insurance" category. At that time, the company's assets amounted to 57 billion soms.

It is known that Global Insurance was established in April 2008. As of November 10 of this year, the company's authorized capital amounts to 35 billion soms.