INGOSSTRAKH INSURANCE COMPANY EXPECTED TO PROVIDE AGRICULTURAL INSURANCE AND COMPULSORY HEALTH INSURANCE IN ARMENIA
arminfo
Thursday, October 4, 14:48
Ingosstrakh Insurance Company (Russia) intends to start providing
agricultural insurance and compulsory health insurance in Armenia,
Tatiana Kaygarodova, Head of INGO Armenia Council, Director General
Ingosstrakh Insurance Company told media, Wednesday.
“Relevant legislative initiatives will be adopted shortly and both
Ingosstrakh and INGO Armenia are expected to involve in the given
process,” she said. Kaygarodova said the company will try to achieve
leading positions in the above segments of the insurance market of
Armenia. Kaygarodova said the Armenian insurance system is approaching
the European insurance market by its quality more rapidly than other
countries in the CIS.
In response to ArmInfo’s question as to whether 7 insurance companies
are sufficient for the country at the current stage of the market
development, Kaygarodova said: “Seven high quality companies for the
Armenian market is normal. For instance, in Russia only 27 out of
the operating 1000 and more companies are of high quality.”
Ranking of Armenian Insurance Companies prepared by ArmInfo says
assets of 7 insurance companies totaled 38.8 bln drams ($92.8 mln) as
of July 1 2012, the capital stock totaled 13.7 bln drams ($32.8 mln),
statutory capital – 10.6 bln drams ($25.4 mln), insurance premiums –
over 6 bln drams ($14.4 mln). For the first half of 2012 the summary
net profit of 7 insurance companies made up nearly 500 mln drams
($1.2 mln).
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2012/10/05/ingosstrakh-insurance-company-expected-to-provide-agricultural-insur/
