By Trend

Central Bank of Azerbaijan (CBA) annulled the licenses of 28 individuals to operate as insurance agents, Trend reports citing CBA.

According to the CBA, the licenses were canceled due to the fact that the insurance agents did not eliminate the circumstances that served as the basis for the suspension of the licenses within the prescribed period in accordance with Article 107.1.2 of the Law of the Republic of Azerbaijan 'On Insurance Activities'.