The Central Bank of the Republic of Azerbaijan has restricted the insurance operating licence of “AtaSigorta” Open Joint-Stock Company from 19 March 2026, by revoking the authorisations previously granted for a range of insurance classes following a voluntary request under Article 105.1.1 of the Law on Insurance Activity. The cancelled permissions cover compulsory motor third party liability, motor casco, voluntary motor third party liability, property insurance against fire and other risks, personal accident, voluntary medical, travel, general third-party liability, compulsory insurance of immovable property, compulsory civil liability linked to the operation of immovable property, and compulsory professional liability insurance for auditors. Under Article 105.3 of the law, restricting a licence prohibits the insurer from concluding new insurance contracts and from extending the term of existing contracts for the relevant insurance types.
Central Bank of the Republic of Azerbaijan 2026-03-19
Central Bank of the Republic of Azerbaijan restricts AtaSigorta’s insurance licence effective 19 March 2026 by cancelling multiple insurance authorisations
The Central Bank of the Republic of Azerbaijan has restricted the insurance operating licence of “AtaSigorta” Open Joint-Stock Company, revoking authorisations for various insurance classes following a voluntary request. The cancellation affects motor liability, property, personal accident, medical, travel, and professional liability insurance. Under Article 105.3 of the Law on Insurance Activity, the restriction prohibits concluding new contracts or extending existing ones for these insurance types.