65% of car insurance premiums in Armenia collected by three insurance companies at 1st h 2011

08.08.2011 16:44
65% of car insurance premiums in Armenia collected by three insurance companies at 1st h 2011

YEREVAN, August 8. /ARKA/. Armenia’s insurance companies, mandatory car insurance market leaders for collected insurance premiums and paid compensations, have collected AMD 7.89 billion or 65.2% of the market’s premiums over the period between January 1 and June 30.

According to the information available on the website of the Bureau of Car Insurers of Armenia, Rosgosstrakh-Armenia, INGO Armenia and Reso are the market leaders.

They paid compensations totaling AMD 1.3 billion and making 66.7% of the market at the mentioned period of time.

Rosgosstrakh-Armenia collected insurance premiums totaling AMD 4.1 billion and paid compensations of AMD 649.4 million.

INGO Armenia collected AMD 2.1 billion and paid AMD 370.1 million and Reso company about AMD 1.8 billion and AMD 256.8 million respectively.
Nine insurance companies operate in Armenia now.

Mandatory car insurance was instituted in Armenia on January 1, 2011.
Rosgosstrakh Armenia insurance CJSC was established in May 2008. On May 20, 2008, the company received its license from the Central Bank of Armenia. The company is a member of Russia’s ROSGOSSTRAKH Group.

INGO Armenia was established in 1997 as EFES CJSC.

In December 2003, Russia’s Ingosstrakh acquired 75% of the company’s shares. After that the company was renamed INGO ARMENIA.

Reso CJSC was registered on November 10, 2008 as Unireso CJSC. The company was renamed Reso CJSC on October 2009.

Paleography CJSC holds 50% of the company’s shares, and the remaining 50% belongs to CIS Equity Partners Limited Ltd. ($1 = AMD 367.34). -0-


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