The Central Bank of the Republic of Azerbaijan published an update on revoked licences in the insurance sector, cancelling the insurance agent licences of five individuals under a Board decision dated 27 February 2026. One licence was revoked on the agent’s voluntary request under Article 107.1.1 of the Law on Insurance Activity (Fərhad Tofiq oğlu Quliyev, licence SA-0165). Four licences were revoked under Article 107.1.2 after the licence holders did not устранate, within the specified period, the circumstances that had formed the basis for suspension of their licences (Namiq Şirin oğlu Eminov, licence 080549; Kənan Aydın oğlu Mahmudov, licence 080584; Asim Əlzamin oğlu Nəsibov, licence 000703; Niyaz Mecid oğlu Xudazarov, licence 080716).
Central Bank of the Republic of Azerbaijan 2026-03-03
Central Bank of the Republic of Azerbaijan revokes five insurance agent licences
The Central Bank of the Republic of Azerbaijan revoked the insurance agent licences of five individuals following a Board decision on 27 February 2026. One licence was voluntarily surrendered, while the other four were revoked due to non-compliance with conditions for suspension removal.