Tuesday, December 7 2010 18:37

INGO-Armenia is going to increase its authorized capital by 200mln AMD


ArmInfo. The INGO-Armenia insurance company is going to increase its authorized capital by 200mln AMD to 949.4mln AMD.

The press service of INGO-Armenia reports that the capital will be increased by means of direct investments by shareholders.

According to the Central Bank's decision, by Jan 1 2011 the total capital of the companies providing motor third-party liability insurance should make up 1.5bln AMD against present 500mln AMD.

75% of INGO-Armenia's shares belong to Invest Polis, owned by INGOSSTRAKH, one of Russia's leading insurance companies. 25% belong to INGO-Armenia's CEO Levon Altunyan.

INGO-Armenia has one of the largest agent networks in Armenia and its customers can obtain their insurance policies by phone or e-mail. The company has licenses for 13 non-life insurances.

According to the Ranking of Insurance Companies of Armenia, Sept 30 2010 the authorized capital of INGO-Armenia totalled 750.9bln AMD, the capital - 1.6bln AMD, the assets - 3.2bln AMD, insurance premiums - 1.54bln AMD, compensations - 335.3bln AMD, the net profit - 65.1mln AMD.
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