The Insurance Market Development Agency under the Ministry of Finance of the Republic of Uzbekistan has suspended the licenses of insurance companies Agros Hayot and Farovon Sug'urta for a period of 10 days starting May 23, UzReport informed.

The decision was made in connection with the identified violations of license requirements and license conditions. It is noted that during the specified period, companies are prohibited from entering into new insurance (reinsurance) contracts, including extension of existing ones.

Agros Hayot is one of the leaders in the life insurance market in Uzbekistan.