News
Information on revoked insurance licenses
06-12-2023
06.12.2023, Baku – In accordance with Article 93.2-3 of the Law of the Republic of Azerbaijan “On Insurance Activity” (Law), insurance intermediaries should submit report on their activities to the Central Bank. According to Article 4.4 of the “Regulation on the List, Forms and Periodicity of Reports Related to Insurance Intermediation Activities” approved by Board Decision No. 43/2 dated September 28, 2022, a legal entity insurance broker, an individual insurance broker and an insurance agent should submit quarterly reports within 20 days after the end of the relevant quarter through the electronic system of the Central Bank. However, 8 (eight) individual insurance brokers, 21 (twenty one) legal entities and 155 (one hundred and fifty five) insurance agents did not submit a quarterly report on intermediation activities to the Central Bank for the first quarter of 2023.
Pursuant to Article 106.1.10 of the Law, the Central Bank shall suspend the validity of the license for a period of 6 months if an insurance intermediary fails to comply with the requirements of Article 93.2-3 of the Law.
The Central Bank suspended the validity of licenses for insurance intermediation activities issued to 8 (eight) individual insurance brokers, 21 (twenty one) legal entities and 155 (one hundred and fifty five) insurance agents by Board Decision No. 03 dated July 6, 2023 for a period of 3 (three) months and a corresponding letter was sent to those persons. However, since that date, 5 (five) individual insurance brokers, 18 (eighteen) legal entities and 95 (ninety five) insurance agents, whose names are included in the attached list, have not eliminated the grounds that served as the basis for the suspension of their licenses.
Pursuant to Article 107.1.2 of the Law, the Central Bank shall revoke the license issued if the circumstances constituting a reason for the suspension of the validity of the license are not remedied within the specified period.
In this regard, in accordance with the requirements of Article 21.2 of the Law of the Republic of Azerbaijan "On Administrative Proceedings", 5 (five) individual insurance brokers, 18 (eighteen) legal entities and 95 (ninety five) insurance agents listed in the attached list were sent a notice on the initiation of administrative proceedings and invited to a meeting at the Central Bank.
Pursuant to Article 107.1.2 of the Law, the Central Bank, by its decision of November 30, 2023, revoked the licenses for intermediation activities issued to 5 (five) individual insurance brokers, 18 (eighteen) legal entities and 95 (ninety five) individual insurance agents listed in the attached list.
LIST
of insurance intermediaries whose licenses have been revoked in accordance with Article 107.1.2 of the
Law of the Republic of Azerbaijan “On Insurance Activity”
|
№ |
License holder |
Activity area |
License date |
License No. |
TAX ID |
|
1 |
Abbasov Aydin Arif |
Agent |
12.01.2015 |
080640 |
4001122602 |
|
2 |
Abbasov Fakhraddin Alishan |
Agent |
16.03.2009 |
000032 |
1001595932 |
|
3 |
Abdullali Rafig Anvar |
Agent |
18.02.2010 |
000324 |
2001619682 |
|
4 |
Abdullayev Emil Nadir |
Agent |
05.03.2012 |
000565 |
1402187292 |
|
5 |
Abdullayev Ruslan Telman |
Agent |
30.03.2012 |
000618 |
2902422472 |
|
6 |
Abdurrahmanov Karam Abdulla |
Agent |
15.01.2013 |
000838 |
3000622862 |
|
7 |
Adigozalov Anar Nazim |
Agent |
14.03.2013 |
000901 |
7300855642 |
|
8 |
Agayev Hafis Rafig |
Agent |
24.05.2012 |
000658 |
2002055572 |
|
9 |
Agayev Ilkhas Ajdar |
Agent |
05.10.2018 |
SA-0081 |
2904985102 |
|
10 |
Agayev Gorkhmaz Sirajaddin |
Agent |
31.08.2022 |
SA-0242 |
2002625202 |
|
11 |
Agayev Gulu Ali |
Agent |
16.04.2012 |
000637 |
2902437202 |
|
12 |
Agayev Sahil Aliyar |
Agent |
23.07.2013 |
000959 |
6700454062 |
|
13 |
Agayev Tural Abbasovich |
Agent |
14.08.2009 |
000232 |
1401606682 |
|
14 |
Agayeva Aytan Arif |
Agent |
03.06.2015 |
080664 |
2003153272 |
|
15 |
Akhundov Fuad Agakarim |
Agent |
28.04.2009 |
000104 |
1301879022 |
|
16 |
Akhundov Samir Rashid |
Agent |
30.03.2012 |
000619 |
2900170022 |
|
17 |
Aliyev Akim Rasim |
Agent |
18.03.2011 |
000421 |
1401416992 |
|
18 |
Babayev Rashad Alibaba |
Agent |
14.09.2021 |
SA-0225 |
1601272282 |
|
19 |
Bagirova Matanat Valyaddin |
Agent |
07.08.2015 |
080677 |
1602346372 |
|
20 |
Bakhishov Rashad Ramiz |
Agent |
23.07.2013 |
000956 |
4500705612 |
|
21 |
Balashli Ilgar Gulamali |
Broker |
03.05.2013 |
000888 |
1402441902 |
|
22 |
Bayramov Zaur Tariyel |
Agent |
20.09.2012 |
000764 |
7700495382 |
|
23 |
Jahangirov Jahangir Muzaffar |
Agent |
04.02.2014 |
080539 |
6400046652 |
|
24 |
Jalalova Elmira Ziyatdinovna |
Agent |
01.06.2009 |
000169 |
1001253652 |
|
25 |
Jabrayilov Sanan Mikayil |
Agent |
13.11.2010 |
000376 |
2902039632 |
|
26 |
Dadashov Gurban Nusrat |
Agent |
21.05.2013 |
000936 |
7701003012 |
|
27 |
Damirov Kamil Agamurad |
Agent |
21.07.2009 |
000222 |
7700602842 |
|
28 |
Eminov Tamirlan Ilgar |
Agent |
15.01.2013 |
000837 |
5100512862 |
|
29 |
Ahmadov Fuad Elshan |
Agent |
18.06.2019 |
SA-0153 |
1101064632 |
|
30 |
Alakbarov Rahman Yahya |
Agent |
03.03.2011 |
000407 |
1300300692 |
|
31 |
Aliyev Fuad Nizami |
Agent |
24.01.2014 |
000997 |
2300246912 |
|
32 |
Aliyev Natig Raguf |
Agent |
30.03.2012 |
000612 |
2200322912 |
|
33 |
Aliyev Rashad Jamshid |
Agent |
07.08.2015 |
080692 |
2903505042 |
|
34 |
Asadzada Azar Khanlar |
Agent |
03.03.2011 |
000403 |
2000860672 |
|
35 |
Asgarov Ramin Fikrat |
Agent |
24.04.2015 |
080659 |
4200711262 |
|
36 |
Goyushov Samir Binat |
Agent |
10.01.2019 |
SA-0127 |
2301410812 |
|
37 |
Hajiyeva Konul Jumshud |
Agent |
16.03.2009 |
000036 |
2001398692 |
|
38 |
Hagverdiyeva Kamala Eldar |
Agent |
03.05.2013 |
000929 |
7300855922 |
|
39 |
Heydarov Rashad Zulfu |
Agent |
05.03.2012 |
000574 |
3500016662 |
|
40 |
Hamidov Ahmad Humbat |
Agent |
21.07.2009 |
000210 |
1801047602 |
|
41 |
Hasanov Mehdi Kamil |
Agent |
24.01.2012 |
000527 |
1002422602 |
|
42 |
Hasanova Gunel Iintigam |
Agent |
07.08.2015 |
080696 |
3101621192 |
|
43 |
Huseynov Farid Ilham |
Agent |
01.06.2009 |
000162 |
1601022482 |
|
44 |
Xalafov Fuad Fikrat |
Agent |
29.12.2009 |
000296 |
2901835102 |
|
45 |
Ibrahimov Aydin Pasha |
Agent |
24.01.2012 |
000522 |
4700029202 |
|
46 |
Ibrahimov Vugar Aziz |
Agent |
01.06.2009 |
000152 |
1801022112 |
|
47 |
Islamov Imran Shikhsamad |
Agent |
05.03.2012 |
000572 |
4700391652 |
|
48 |
Ismayilov Ulvi Shahbaz |
Agent |
05.03.2012 |
000582 |
8500642812 |
|
49 |
Karimov Abdl Mehdi |
Agent |
14.10.2011 |
000487 |
1402046012 |
|
50 |
Karimov Nazim Rafael |
Agent |
08.05.2012 |
000643 |
5300052712 |
|
51 |
Karimova Irada Shamsaddin |
Agent |
20.09.2012 |
000755 |
1402153752 |
|
52 |
Garakhanov Nazim Baba |
Agent |
02.04.2019 |
SA-0144 |
1603487472 |
|
53 |
Gadirov Shahriyar Damir |
Agent |
19.03.2012 |
000601 |
6600211692 |
|
54 |
Gambarov Rauf Ismayil |
Agent |
28.12.2011 |
000516 |
1402131452 |
|
55 |
Garibov Zaur Islam |
Agent |
28.04.2009 |
000075 |
1301914162 |
|
56 |
Guliyev Javid Tahir |
Agent |
18.02.2015 |
080652 |
5900140602 |
|
57 |
Guliyev Alakbar Ali |
Agent |
29.12.2020 |
SA-0194 |
1305354122 |
|
58 |
Gurbanov Arif Adil |
Agent |
28.04.2009 |
000061 |
1600998382 |
|
59 |
Gurbanov Jahid Yavar |
Agent |
09.02.2018 |
SA-0036 |
1305206202 |
|
60 |
Mahmudov Eldar Nazir |
Agent |
19.03.2014 |
080555 |
1502424102 |
|
61 |
Mahmudov Mirsahib Mirjalal |
Agent |
07.11.2012 |
000798 |
3600338922 |
|
62 |
Mahmudov Oktay Musa |
Agent |
14.03.2013 |
000907 |
4200506852 |
|
63 |
Mahmudov Shiraz Ismayil |
Agent |
07.08.2015 |
080711 |
1403154342 |
|
64 |
Mahmudova Yegana Vidadi |
Agent |
24.06.2009 |
000189 |
2001505742 |
|
65 |
Mehdiyev Chingiz Kamal |
Broker |
15.01.2013 |
000828 |
1701427772 |
|
66 |
Mehraliyev Orkhan Dilafat |
Agent |
11.07.2014 |
080593 |
2903069142 |
|
67 |
Majnunov Mushfig Ahmadali |
Agent |
14.08.2019 |
SA-0160 |
4401268712 |
|
68 |
Malikov Agammad Naji |
Agent |
21.07.2009 |
000204 |
3500167512 |
|
69 |
Mammadaliyev Elmin Elkhan |
Agent |
13.02.2013 |
000867 |
2902676532 |
|
70 |
Mammadov Anar Vagif |
Agent |
27.01.2015 |
080643 |
2001580982 |
|
71 |
Mammadov Farid Sabuhi |
Agent |
18.02.2010 |
000314 |
1401094932 |
|
72 |
Mammadov Orkhan Valeh |
Agent |
27.01.2015 |
080642 |
1303891532 |
|
73 |
Mammadov Ramin Elshad |
Agent |
05.10.2018 |
SA-0088 |
1404345292 |
|
74 |
Mammadov Teymur Agil |
Agent |
14.08.2009 |
000239 |
1401234452 |
|
75 |
Mirzayev Elvin Tofig |
Agent |
28.04.2009 |
000093 |
1401506552 |
|
76 |
Mirzayev Sehun Garyagdi |
Agent |
03.03.2011 |
000404 |
1601255852 |
|
77 |
Mirzayev Vugar Bahlul |
Broker |
22.09.2016 |
SB-001 |
1303659482 |
|
78 |
Mirzayeva Mujda Mobil |
Agent |
03.12.2018 |
SA-0112 |
2005294582 |
|
79 |
Mirzayeva Nigar Azar |
Broker |
18.05.2011 |
000431 |
1401977902 |
|
80 |
Musayev Adnan Yusif |
Agent |
14.08.2019 |
SA-0163 |
1404699652 |
|
81 |
Mustafayev Jamshid Ali |
Agent |
31.05.2021 |
SA-0217 |
0701055222 |
|
82 |
Mustafayev Elman Elkhan |
Broker |
04.08.2014 |
080611 |
2901240262 |
|
83 |
Müsallifov Abutalib Zakir |
Agent |
21.05.2014 |
080589 |
1800664652 |
|
84 |
Nagiyev Alinur Alish |
Agent |
19.03.2012 |
000594 |
2001127942 |
|
85 |
Nagiyeva Aytaj Safar |
Agent |
21.07.2009 |
000225 |
6500245522 |
|
86 |
Nasibov Sail Isa |
Agent |
23.04.2014 |
080560 |
2902443292 |
|
87 |
Nuriyev Yashar Allahman |
Agent |
13.02.2013 |
000869 |
1303130862 |
|
88 |
Panahov Hafiz Samaddin |
Agent |
14.07.2011 |
000453 |
8500454552 |
|
89 |
Rahimli Orkhan Şafahat |
Agent |
26.12.2017 |
SA-0028 |
2904540022 |
|
90 |
Sadigov Ismayil Shukur |
Agent |
29.12.2020 |
SA-0199 |
1503436932 |
|
91 |
Sultanov Denis Rafail |
Agent |
04.09.2012 |
000737 |
1502094592 |
|
92 |
Shahbazova Lala Eldar |
Agent |
07.08.2012 |
000776 |
1700810682 |
|
93 |
Sheydayev Raik Rafig |
Agent |
11.04.2013 |
000918 |
7701001712 |
|
94 |
Shindiyev Samir Gurbanmahama |
Agent |
03.06.2015 |
080662 |
3800596972 |
|
95 |
Shukurov Ramiz Dayandur |
Agent |
09.02.2018 |
SA-0032 |
2004731212 |
|
96 |
Tagiyev Rail Rasim |
Agent |
16.11.2011 |
000505 |
2301676782 |
|
97 |
Tagiyev Jeyhun Nariman |
Agent |
19.03.2021 |
SA-0215 |
1901256262 |
|
98 |
Valiyev Emil Tohid |
Agent |
28.04.2009 |
000091 |
1301032672 |
|
99 |
Valiyev Kamandar Aladdin |
Agent |
21.09.2015 |
080720 |
1003891892 |
|
100 |
Zilfiyev Ilham Faig |
Agent |
30.07.2010 |
000348 |
3100772092 |
|
101 |
"Alventures" LLC |
Agent |
26.07.2022 |
SA-0237 |
2006113431 |
|
102 |
"AS Prof" LLC |
Agent |
24.01.2012 |
000520 |
1401745991 |
|
103 |
"Avtomart" LLC |
Agent |
24.05.2012 |
000681 |
1700963111 |
|
104 |
"Cogent" LLC |
Agent |
29.06.2021 |
SA-0220 |
1904516891 |
|
105 |
"Express Services Group" LLC |
Agent |
20.09.2012 |
000744 |
1601586151 |
|
106 |
"Euro Broker" LLC |
Agent |
09.02.2011 |
000393 |
1302194591 |
|
107 |
"Fəsil Turizm" LLC |
Agent |
15.07.2019 |
SA-0156 |
1004672541 |
|
108 |
"GAGO-İNVEST" LLC |
Agent |
09.09.2011 |
000474 |
1501817891 |
|
109 |
"Insurall" LLC |
Agent |
06.05.2011 |
000444 |
1501720941 |
|
110 |
"İnmart" LLC |
Agent |
24.05.2012 |
000682 |
1301370711 |
|
111 |
"İnternəşnl İnşuerens Sörvises" LLC |
Agent |
16.03.2009 |
000049 |
1300211271 |
|
112 |
"Kaylas Group" LLC |
Agent |
19.10.2012 |
000780 |
1701397821 |
|
113 |
“Lucky Star LTD” LLC |
Agent |
01.06.2009 |
000134 |
1700323151 |
|
114 |
"M.Servis" LLC |
Agent |
19.10.2012 |
000786 |
1100731551 |
|
115 |
"N-İnform" LLC |
Agent |
19.10.2012 |
000791 |
1100731681 |
|
116 |
"Tərəfdar" LLC |
Agent |
08.05.2012 |
000640 |
1901387901 |
|
117 |
"Turnkey İnsurance Solutions" LLC |
Agent |
09.09.2011 |
000474 |
1501862341 |
|
118 |
"Viamark" LLC |
Agent |
17.04.2019 |
SA-0145 |
1701956681 |