Law Will Oblige Insurance Companies to Publish Quarterly Reports
The law will oblige insurance companies to publish financial reports in a timely manner.
Turan was told by the Advisor to the Chairman of the Board of Directors of the Financial Markets Supervision Authority (FIMSA) Rufat Abbasov.
He noted that, after making appropriate changes in legislation the insurance companies will be required to publish quarterly reports on their official websites.
“Currently, insurance companies send monthly reports to FIMSA and we, in turn, inform the media about it. Now according to the law, the insurance companies are obliged to publish their annual reports, following the approval by the audit. After amending the legislation, all will change,” Abbasov said.
It should be noted that at present the vast majority of insurance companies do not publish financial reports on their official websites. This makes it impossible to learn their financial condition. ====71D
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