License of Alfa Sigorta suspended

The activities of the insurance company Alfa Sigorta have been suspended. According to the State Insurance Supervision Service of the Ministry of Finance, this is due to the fact that the action of the five-year license for the professional activities ended on February 8, and an application for an extension was filed after the deadlines Ministry.

As commented the insurance sector head Mahir Abdullayev, under the rules, the documents must be prepared one month before the expiry of the previous license (in this case, no later than January 8 this year). However, the leadership of the financial structure prepared the paper by January 25, thus violating the requirement of timing. Other claims against the company not because treatment is being considered.

Ministry ordered the company not to engage in insurance activities to resolve the conflict.

According to observers, the pressure on Alfa Sigorta is artificial and continues for a long time, since the pressure is exerted on its founder - Bank Technique. Last year, it was deprived of the right to service a new kind of compulsory liability insurance of vehicle owners to third parties (CTP), as a result there was not counted at least a million manat of premiums. Then, as the cause of punishment the Ministry referred to the fact that customers are ostensibly offered discounts and incentives prohibited by the law. Perhaps, the public service does not monitor companies; otherwise it at the least should have revealed many cases of violations of orders there, too.

The company is one of 12 members of the Bureau of Compulsory Insurance, with 28 companies in the country.

Insurance company Alfa Sigorta has been at the local insurance market since 1997 and provides services for 25 types of insurance. In February 2008, it was given a perpetual license. Until 2005, the insurance company operated under the name Ltd Murad.

The sole founder and major shareholder of the company is Bank Technique.

According to the Insurance Supervision Service, in January-November, the premiums reached 5.34 million manat and the payments reached 1.14 million manat. - 17D-


Leave a review


Follow us on social networks

News Line