OREANDA-NEWS. January 31, 2008. According to information the Ministry of Finance received, Gorgud Syghorta LTD, license of which for insurance action has been annulled by the Ministry of Finance, makes effort to sign illegal insurance contracts with physical and legal persons.

The Ministry of Finance states once again that action of the license granted to Gorgud Syghorta LTD for insurance action was stopped on 21.09.2007 by respective order of the Ministry and the license given was annulled on 14.12.2007. In connection with this, every action the Company takes towards realization of insurance activity is illegal.

It is brought into attention of physical and legal persons having signed insurance contracts with Gorgud Syghorta LTD till 21.09.2007 that according to the civil legislation of the Republic of Azerbaijan, despite its license has been annulled the Company bears responsibility for fulfillment of liabilities coming from insurance and repeated insurance contracts it has signed till the date given.