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General Information
“INGO ARMENIA” Insurance CJSC was established in 1997 as “EFES” Insurance CJSC: on the same year on the 2-nd of September the Company was granted a NON-LIFE insurance license by the Ministry of finance and economics. Later in 2001 according to the order of the Minister of finance and economics the Company was given the right of accomplishing Life Insurance, moreover on the 28-th of December, 2004 “INGO ARMENIA” also obtained Life Insurance license.
On December 2003 the 75% of the Company’s shares were purchased by “INGOSSTRAKH” Russian Insurance CJSC, then the Company was renamed into “INGO ARMENIA” Insurance CJSC. Nowadays “INGO ARMENIA” Insurance CJSC is a legal member of “INGO” (International Network of Guarantees and Obligations) Group, which includes such famous companies as “INGOSTRAKH” /Russia/, “SOFAG” /Germany/, “INGO NORD” /Finland/, “Garant” /Austria/, “INGO UKRAINE” /Ukraine/, etc.
The financial audit of the companies which are members of the Group is realized by “Ernst & Young Audit” company. The total authorized capital of the Group is about 2 billion USD. According to the results of a ranking made by “ARMINFO”, an independent agency, for the last three years “INGO ARMENIA” Insurance CJSC secured first positions by major activities, which characterize insurance company’s activities. By the results of 2006 the authorized capital of the Company is about 553 millions AMD, which exaggerates the minimal scale set by the Central Bank of Armenia for more than 1.5 times. According to the results of 2006 the total assets of the company exceed 1.1 billion AMD, which exaggerates the same index of the previous year 2 times. In comparison with the previous year the Company has shown a 15% growth in collected insurance premiums. According to the results of 2006 the collected insurance premiums of the Company is more than 611 mln AMD.
To be in line with the changes accomplished in the insurance field of the country in 2006 “INGO ARMENIA” Insurance CJSC abandoned its Life Insurance license, in order to perfect in Non-life insurance sphere and to confirm gained positions in the market.
“INGO ARMENIA” Insurance CJSC cooperates with leading reinsurance companies for reinsuring underwritten risks.
On December 2003 the 75% of the Company’s shares were purchased by “INGOSSTRAKH” Russian Insurance CJSC, then the Company was renamed into “INGO ARMENIA” Insurance CJSC. Nowadays “INGO ARMENIA” Insurance CJSC is a legal member of “INGO” (International Network of Guarantees and Obligations) Group, which includes such famous companies as “INGOSTRAKH” /Russia/, “SOFAG” /Germany/, “INGO NORD” /Finland/, “Garant” /Austria/, “INGO UKRAINE” /Ukraine/, etc.
The financial audit of the companies which are members of the Group is realized by “Ernst & Young Audit” company. The total authorized capital of the Group is about 2 billion USD. According to the results of a ranking made by “ARMINFO”, an independent agency, for the last three years “INGO ARMENIA” Insurance CJSC secured first positions by major activities, which characterize insurance company’s activities. By the results of 2006 the authorized capital of the Company is about 553 millions AMD, which exaggerates the minimal scale set by the Central Bank of Armenia for more than 1.5 times. According to the results of 2006 the total assets of the company exceed 1.1 billion AMD, which exaggerates the same index of the previous year 2 times. In comparison with the previous year the Company has shown a 15% growth in collected insurance premiums. According to the results of 2006 the collected insurance premiums of the Company is more than 611 mln AMD.
To be in line with the changes accomplished in the insurance field of the country in 2006 “INGO ARMENIA” Insurance CJSC abandoned its Life Insurance license, in order to perfect in Non-life insurance sphere and to confirm gained positions in the market.
“INGO ARMENIA” Insurance CJSC cooperates with leading reinsurance companies for reinsuring underwritten risks.
Updated: 2009-10-13 02:10
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