Thursday, October 21 2010 15:34
Samvel Grigoryan appointed new executive officer of RESO Insurance Company
ArmInfo. Samvel Grigoryan has replaced Mushegh Sahakyan on the position of RESO Insurance Company executive officer, a reliable source told ArmInfo. S. Grigoryan previously occupied the position of vice chairman of the Board and head of the Financial Department of Unibank. He is known as a professional in the sphere of financial management in the banking sector of Armenia.
The shareholders of the company decided to replace the director on the threshold of a very important stage of the company's development to get seriously prepared for introduction of the compulsory third party motor liability insurance in Armenia on Jan 1 2011.
RESO Insurance Co. with 100% Russian capital occurred in the insurance market of Armenia in November 2008. It was registered by the Central Bank of Armenia as UNIRESO, the Armenian subsidiary of the "RESO-Garantia" Insurance CJSC (Sergey Sarkisov). Later in October 2009 it was renamed into RESO. The nominal shareholders are AGI Invest Ltd (50%) and "CIS Equity Partners Limited" - Sergey Sarkisov (50%).
The company launched activity in summer 2009 and occupied 3% of the market till the end of the year. Ranking of Armenian Insurance Companies prepared by ArmInfo news agency says that as of July 1 2010 the company's assets totaled 1,042,721 thousand drams, total capital - 816,613 thousand drams, statutory capital - 1,070,000 thousand drams, total insurance premiums - 196,285, indemnities - 94.009 thousand drams. The young company ended the first half of the year with 167,051 thousand drams loss, including 30,840 thousand drams insurance lines. The company has licenses for provision of 10 insurance lines.