YEREVAN, June 20. / ARKA /. Mandatory car insurance and other voluntary insurance policies account for 50% of Ingo Armenia’s insurance company’s portfolio, company CEO, Levon Altunian, told journalists during a workshop on the role of journalism in insurance sector.

He said the company controls about 22-24% of Armenia’s overall insurance market and 17% of car insurances.

According to data, provided by the company, its insurance portfolio is made up of voluntary property insurance (32%), personal insurance (14%), public insurance (3%) and other types of insurance (2%).

He said the company employs 120 workers and 1,500 agents, up from a seven-member staff in 2007.

Ingo Armenia was founded in 1997. In December 2003 some 75% of its shares were acquired by Russian insurance company Ingosstrakh. Twenty-five percent of share are owned by Levon Altunian (Armenia).

The company’s authorized capital is 750.9 million drams. ($ 1 - 373.96 AMD).--0—