ArmInfo.According to the results of the activities of the Export Insurance Agency of Armenia (EIAA), in 2018 a significant increase in indicators was registered. This was reported by the press service of the Agency.
According to the source, 93 applications from 58 economic entities for export insurance were received during the past year. With 31 business entities, of which 20 were small and medium-sized businesses, 591 insurance policies were concluded. Moreover, contracts were concluded with 16 economic entities for the first time. The total insurance amount was almost 7.9 billion drams, which is 1.73 times more than the previous year. The increase compared with the size of the sum insured under the plan of activities of EIAA for 2018-2020 as of December 31, 2018 was 1.31- fold. The collected insurance premium turned out to be at the level of 75.5 million drams (1.95-fold increase compared to the previous year, an increase compared to the size of the insurance premium stipulated by the activity plan of CJSC EIAA for 2018-2020, as of December 31, 2018, 1.09-fold).
In 2018 for the EIAA, new areas of insurance were the production of dairy products, jewelry, leather and a number of other industries.
The total insurance amount of insurance policies issued in 2017 amounted to 4.5 billion drams, and the total insurance premium was 38.8 million drams, the indicators of which as of October 31, 2018 have already been exceeded. Since the beginning of the activities of the EIAA, from March 2015 and until the end of 2018, the insurance amount amounted to almost 15 billion drams, and the insurance premium amounted to about 130 million drams.
"Export Insurance Agency of Armenia" CJSC was established on October 23, 2013 on the basis of a decision of the Government of the Republic of Armenia within the framework of export-oriented industrial policy. The company provides insurance to resident exporting companies of the Republic of Armenia from financial losses incurred in the event of non-payment for the goods delivered by a foreign buyer or a bank, which, under the contract, has an obligation to pay. Insurance services provided are an efficient export risk management solution.The sole shareholder of the company is the Republic of Armenia.