Insurance company SUGURTAI NACHOT stopped its insurance activity on the Tajik market due to expiration of its license, as informed the press service of the National Bank of Tajikistan.

As of the end of 2017 Tajik insurance market was represented by 22 various insurance organizations. For the moment about 20 insurance entities are active on the local market, 2 of them - state insurers (TAJIKSUGURTA and TAJIKSARMOYAGUZOR). Among insurance classes the prevailing are: property, personal, life and liability insurance, wrote Tajik news agency Sputnik.

However, in February this year one new insurer entered the local market. The National Bank approved a license for the private insurance company SUGURTAI asri 21 as well as prolonged licenses of two other insurers, working on the market, - state TAJIKSUGURTA and private ASKHATA-Sugurta.

According to the specialists of the news agency the Tajik insurance market is facing a range of problems, affecting its stability and development. The main problem is that economical bodies and market participants do not consider the Tajik insurance industry as a strategic factor for the country's development.