YEREVAN, November 27, /ARKA/. Levon Altunian, the executive director of INGO Armenia, said the company is going to offer a new product of a leading health insurance company Bupa International.

He said INGO Armenian insurance company plans to join a joint project launched recently by Russian Ingostrakh and Bupa International for insuring expatriates health. According to him, Bupa International may pay as much as $1 million of insurance payment in any country.

He said it is not yet clear how INGO Armenia will be promoting Bupa International’s services in Armenia because of a string of legislative problems.

‘We want to bring this service to the Armenian market in a format that will be in conformity with Armenian legislation. The right decision is to offer it as an reinsurance service, but that will require a protracted preparation,’ Altunian said.

INGO Armenia insurance company was established in 1997. In 2004 75% of its shares were acquired by Invest Polis, owned fully by Russian INGOSTRAKH. As a result the company was renamed INGO Armenia. Twenty-five percent of shares are owned by Levon Altunian (Armenia).  -0-