NAPP Permanently Revokes Global Insurance Group's License
Business
The National Agency for Perspective Projects (NAPP) has officially revoked the license of Global Insurance Group, which had previously been under sanction. This decision marks the culmination of a series of financial violations and fines that have also impacted several other major players in the industry.
The National Agency for Perspective Projects (NAPP) has annulled Global Insurance Group's license, originally issued in February 2022. The decision took effect on May 9. Despite the revocation, the insurer is legally mandated to fulfill all existing obligations under previously signed insurance and reinsurance contracts. Additionally, the regulator revoked the license of the insurance broker Leo Finance Sug’urta Broker, effective May 10.
Global Insurance Group's troubles began in October 2025, when a financial audit led to a 35 million soum fine and a temporary suspension of its operations. Subsequently, in November of the same year, the license was suspended for six months following a voluntary application by the company. Other insurers also faced financial penalties: Alskom was fined 50 million soums, Inson 40 million soums, and Semurg Insurance 31.5 million soums. These actions underscore the regulator's commitment to weeding out unstable participants from the market.
Global Insurance Group's troubles began in October 2025, when a financial audit led to a 35 million soum fine and a temporary suspension of its operations. Subsequently, in November of the same year, the license was suspended for six months following a voluntary application by the company. Other insurers also faced financial penalties: Alskom was fined 50 million soums, Inson 40 million soums, and Semurg Insurance 31.5 million soums. These actions underscore the regulator's commitment to weeding out unstable participants from the market.
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