Armenian Central Bank and Central Insurance of IR IRAN signed memorandum on cooperation

ArmInfo. On February 9,  Armenia's Central Bank Co-Chairman Arthur Javadyan and President of  Bimeh Markazi Iran (central insurance of Iran) Abdolnasser Hemmati  signed memorandum on cooperation in Yerevan. As the CB press-service  told ArmInfo, the document was signed during the visit to CB Armenia  by the Iranian delegation, represented by the Directors of Iran's  leading insurance companies. 

The aim of memorandum is to create a basis for cooperation in the  field of insurance, to provide availability to insurance services for  the citizens of the states, to cooperate in the field of reinsurance,  create basis for the presence of the insurance companies in the  states in the framework of the constitution, hold joint training  programs and seminars, also mutual visits on experience exchange. 

To note, the first similar memorandum between the Central Bank of  Armenia and the Central Insurance of Iran was signed in 2009.

According to the Ranking of Insurance Companies, prepared by ArmInfo,  the total assets of 6 operating on the insurance companies reached by  January 1, 2017 is 43.3 billion drams or $ 89.6 million, with an  annual rise of 12.5%. The total net profit for 2016 increased by 34%  - up to 3.6 billion drams or $ 7.3 million, the volume of insurance  premiums increased by 6.8% for the year 2016 to 32.2 billion drams ($  66.6 million). With the decline of insurance claims by 13.7% - to  14.1 billion drams ($ 29.1 million). Of the existing 19-SC Armenian  classes are working on 17 classes of insurance, except for insurance  of railway transport and insurance of judicial and extrajudicial  costs. In 16 classes licensed insurance company "INGO Armenia" (the  only working class insurance of water transport), after which the  classes in the number of licensed comes "Rosgosstrakh Armenia" - 15  classes of insurance (the only one working on credit risk insurance  class).