The licenses of 71 insurance agents issued for an indefinite period have been revoked, the Ministry of Finance of Azerbaijan.
According to the State Insurance Supervision Service, in view of not reporting on their activities since April 7, the licenses of 80 insurance agents have been suspended for three months. Nine of them dealt with their commitments, and the rest did not. Thus, from the beginning of the year 116 licenses of insurance agents have been revoked.
The "black list" of insurance intermediaries is prepared to inform about unreliable insurance intermediaries having large receivables to customers and providing false information. In parallel, work is underway to create a similar list of unscrupulous customers of insurance companies.
In total there are 946 insurance agents (61 legal entities and 885 individuals) and 19 insurance brokers (8 legal entities and 11 individuals) in Azerbaijan. There are 26 Insurance companies and 1 reinsurance company. --17D-
Economics
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It is expected that the average Azerbaijani family will allocate a larger portion of their budget to food in 2025, driven by rising social expenditures and increased wages.
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Temporary suspension of gas supplies from Azerbaijan to Serbia will be avoided, Serbian President Aleksandar Vucic announced on Sunday.
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On January 11, Serbian President Aleksandar Vučić announced that Azerbaijan had notified Serbia about the suspension of daily gas supplies amounting to 1.7 million cubic meters due to technical problems at the Shah Deniz field.
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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