July 31, 2014 / 3:46 PM / 3 years ago

Serbian central bank says revokes insurer Takovo Osiguranje's licence

BELGRADE, July 31 (Reuters) - Serbia’s central bank said on Thursday it has revoked the licence of insurer Takovo Osiguranje and filed a motion for a bankruptcy proceedings to the court in the central town of Kragujevac.

“As of today Takovo Osiguranje is not allowed to close new insurance contracts,” the bank said in a statement. “Existing contracts will be valid until the expiry date.”

There are 26 licensed insurance companies in Serbia, a country of 7.3 million people.

No one was available at Takovo Osiguranje to comment. Its shares last traded at 1,280 dinars on the Belgrade stock exchange. (Reporting by Ivana Sekularac; Editing by Greg Mahlich)

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