YEREVAN, December 29. /ARKA/. Arevshat Meliksetyan, executive director of INGO Armenia, told journalists on Wednesday, that he expected no consolidations in Armenia’s insurance sector in 2017.

Contrary to the central bank that has said in its report that it expects a number of mergers in Armenia’s insurance sector before 2018, Meliksetyan thinks there will be no legislative changes in 2017 if there are no legislative changes.

In his opinion, consolidation has been sufficient in insurance sector over the last five years. “Companies have no problems with capitalization and solvency norms,” he said.

Six insurance companies operated in Armenia in late September 2016.

ARKA News Agency’s analysis shows that the aggregate insurance premiums of the country’s insurance companies totaled AMD 23.2 billion in Jan-Sept 2016 and compensations AMD 10.1 billion. ($1 – AMD 482.68). --0---