Monday, March 11 2013 22:13

Rosgosstrakh Armenia Insurance Company to insure mortgage loans of VTB Bank (Armenia) against financial risks


ArmInfo. VTB Bank (Armenia) jointly with Rosgosstrakh Armenia Insurance Company has launched a unique service for its customers - insurance of borrowers of mortgage loans against financial risks, the bank's press-service told ArmInfo.

The source reported that from now on VTB Bank (Armenia) borrowers will get an opportunity to register a mortgage loan and get insurance against loss of job.

Insurance case is unexpected loss of job (profits). In such case, Rosgosstrakh Armenia will pay indemnity within 6 months after loss of job. Consequently, the bank will make monthly payments for the mortgage loan instead of the borrower for a period of 6 months.

"At present, the fear of losing job is a decisive factor when applying for a mortgage loan. Considering the high turnover of employees in the labor market of Armenia and caring for its customers, VTB Bank (Armenia) jointly with Rosgosstrakh Armenia has elaborated and introduced an unprecedented insurance line in Armenia - insurance against loss of job. We are convinced that the given offer will lift the psychological barrier and become a guarantee for our borrowers," says Yuri Gusev, Director General - Chairman of Directorate of VTB Bank (Armenia).

VTB Bank (Armenia) CJSC joined VTB Group in April 2004. At present Russian VTB Bank OJSC holds 100% stake in VTB Bank (Armenia). The bank has leadership positions in the Armenian banking system by a number of key figures. At present the Bank serves the largest branch network in the country:69 branches, with 44 in the regions and 25 in Yerevan.

To note, Rosgosstrakh Armenia was founded in May 2008. It is a member of Rosgosstrakh Group (Russia), which owns 100% of Rosgosstrakh LLC (Russia). The company provides 15 insurance linces.
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