YEREVAN, February 2. /ARKA/. Armenian insurance company Ingo Armenia as of December 31 paid 4 339 compensations for mandatory car insurance in the total amount of over 1 billion drams, the site of Bureau of car insurers of Armenia states.

“As of December 31, 67.7 thousand transport means are registered in Armenia, and the number of applications for payment of compensations exceeded 4.6 thousand. The applications were not satisfied in 170 cases”, states the site.

Currently compensations in the total amount of 7.7 million drams re in the payment process.

Volume of insurance premiums of Ingo Armenia in 2011 was about 2 572 million drams..

Today in the insurance market of Armenia eight companies are operating. Institute of mandatory car insurance operates in Armenia since January 1, 2011.

Control over insurance market of Armenia is implemented by the Armenian central Bank since January 1, 2006.

“INGO Armenia” was established in 1997 as Closed Joint Stock Insurance Company “Efes”. In December 2003, 75% of shares of the company was obtained by the Russian company “INGOSSTRAKH” after which it was renamed “INGO Armenia”. Levon Altunyan (Armenia) is the shareholder of 25% of shares.

As of December 31, 2011 the assets of the company were over 7.2 billion drams, total liabilities - about 5 billion drams, total capital - over 2.2 billion drams. Net income of the company in 2011 was about 537.6 million drams. ($1-386.85 drams). --0–