YEREVAN, November 10. / ARKA /. Rosgosstrakh Armenia, a subsidiary of Russian Rosgosstrakh insurance company, said today it became the first in Armenia to have signed more than one million mandatory vehicle insurance contracts. The company said these numbers show the high level of citizens' trust in their services.

According to data of the Bureau of Car Insurers of Armenia, Rosgosstrakh Armenia has been the market leader not only by the number of contracts, but also in terms of insurance compensation claims it has paid over five years.

Rosgosstrakh Armenia executive director Gagik Grigoryan is quoted as saying in a press release that  the achievement  is also a great responsibility and a great experience, given that they are constantly improving the quality of their  services.

Since the enactment of the law on mandatory insurance of vehicles 5 years ago the company's employees have handled 106,000 car accident paying insurance compensation claims to more than 71,000 people. The office of Financial Ombudsman received 479 complaints from car owners, which make only 0.67% of the total compensation claims.

Rosgosstrakh Armenia was established in 2008. It is part of Russian Rosgosstrakh Insuarnce Company. The Armenian subsidiary’s authorized capital is worth 4.5 billion drams. It is  represented in all the cities of the country, running 47 offices, including 18 branches and 13 sales offices in Yerevan and 34  in  major regional centers and cities

In  2011, the company was the first  insurance company in Armenia to be awarded the ISO 9001: 2008 certificate of compliance  from the Moody International.-0-