YEREVAN, September 20. / ARKA /. INGO Armenia insurance company plans to increase insurance premiums by 220% this year form 2011 to 9.5 billion drams, the company’s executive director Levon Altunian told a news conference September 19. He said the amount of premiums collected to date is two times more than last year.

He said the company has currently about 70,000 clients with whom it has signed some 160 thousand contracts. The company has on its payrolls about 250 people, and also some 1000 agents across the country.

He said overall the company owns about 30 percent of the market, including about 20 percent in mandatory vehicle insurances. He said the company operates strictly in line with the requirements of its majority shareholder - the Russian Ingosstrakh which owns 75 percent of its shares that the share of mandatory insurance must not exceed the share of voluntary insurance.

The rest in Ingo Insurance is owned by Levon Altunian. Its charter capital stands now at 751 million drams. ($1 – 408.05 drams). -0-