The Central Bank of Azerbaijan has cancelled the licenses for the activities of two entities as insurance agents, as well as the activities of non-bank credit organization “Fintrend”. This is reported on the website of the regulatory body. This decision was adopted on May 10 in accord with the “Law on Insurance Activity”, the report says. In keeping with the decision, the licenses were cancelled on the basis of voluntary applications. Thus, currently 531 physical entities and 72 legal entities act as insurance agents in Azerbaijan.

Source: Turan News Agency