ArmInfo. Armenian Export Insurance Agency approved the 2017-2019 Working Plan. According to the information of the Ministry of Economy press office, the Program was approved on January 31 during the session of AEIA under the chairmanship of Suren Karayan, the Minister of Economic Development and Investments.
During the meeting the session attendants discussed the results of the Agency performance for Q4 of 2016 and some issues regarding the current work. According to AEIA report, during the period reported an insurance limit of AMD 1.052.507.000 has approved. 43 insurance agreements were signed during the same period mentioned, with total cost of AMD 852, 603,449. In January-December of 2016 the approved insurance limit exceeded AMD 4 bln, with an annual growth of more than 4 times. The actual insurance amount formed AMD 2,2 bln, which is 5 times bigger versus the same indicator a year ago. According to the source, during the session appropriate arrangements were presented in respect to clients involvement, as well as the agreement on better conditions for reinsurance with Swiss Reinsurance Company LTD. - one of the largest reinsuring companies.
Closing the meeting, Minister Suren Karayan issued issued appropriate instructions
To note, Export Insurance Agency of Armenia Insurance CJSC was founded on October 23th, 2013 by the decision of the Government of the Republic of Armenia within the framework of the export- oriented industrial policy. The Company provides insurance against the financial losses incurred as a result of non- payment for supplied goods by the Foreign Buyer or its Bank, which has a payment obligation under the Contract.