Economic crisis affects Armenian insurance marketFebruary 16, 2009 - 20:10 AMT PanARMENIAN.Net - The global economic crisis affected the Armenian insurance market, brining the volume of uncollected insurances of INGO ARMENIA Insurance CJSC to AMD 200 million. Nevertheless, company director Levon Altunyan is pleased with the last year's index. "The company has collected bonding premiums to the amount of AMD 2 billion, what exceeds the 2007 index by AMD 700 million and makes 28 per cent pf the Armenian insurance market. At that, the amount payable on settlement comprised AMD 700 million," Mr. Altunyan told a PanARMENIAN.Net reporter. Summarizing the outcomes of the year, he said that INGO ARMENIA maintains leading positions in the Armenian insurance market. He also informed that the company will provide insurance mixes, which will be comparable with the salary of a field employee. INGO ARMENIA Insurance CJSC was established in 1997. On December 2003 the 75% of the Company's shares were purchased by "INGOSSTRAKH" Russian Insurance OJSC. The financial audit of the companies which are a member of the Group is realized by "Ernst & Young Audit" company. The total authorized capital of the Group forms about 2 billion USD. INGO ARMENIA Insurance CJSC cooperates with the leading reinsurance companies with the purpose of reinsuring the underwritten risks. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |