ArmInfo. On September 29, Armenian Prime Minister Karen Karapetyan received the General Director of the Russian IPJSC Ingosstrakh, Mikhail Volkov, and discussed issues related to further development of the insurance market.
According to the press service of the government, Mikhail Volkov expressed satisfaction with the activities of the subsidiary company Ingosstrakh in Armenia. He noted that in the insurance sphere of Armenia there is a great potential, the market is well organized.
Karen Karapetyan congratulated Volkov on the 20th anniversary of the activities of Ingosstrakh in Armenia, noting that the government plans to switch to the compulsory health insurance system, and suggested that it be involved in this process. The prime minister also called for considering the possibility of providing insurance services in other industries, stressing that the government discuss various proposals.
IPJSC Ingosstrakh is one of the largest Russian insurance companies, and it stably enters the Top 10 insurers of the Russian Federation. It is classified as a system-forming Russian insurance company. The most media-active insurer, three years in a row, is number one in the rating of the insurance companies most mentioned in the press.
INGO Armenia Insurance Company, originally known as Efes, was born in 1997. Renaming took place in 2004, when the Russian insurance giant, Ingostrakh, decided to enter the Armenian market, acquiring a 75% stake in Efes and renaming it, according to its strategy, to INGO Armenia. As of January 1, 2017, the assets of INGO Armenia reached 11.8 billion drams, equity capital - 3.96 billion, insurance premiums - 8.7 billion, insurance indemnities - 3.5 billion drams. 2016, "INGO Armenia" completed with a net profit of 0.9 billion drams. The insurance portfolio of the company is quite diversified, but the dominant in terms of premiums are OSAGO, medical insurance, property insurance. (the calculated exchange rate for 31.12.2017 - 483.94 AMD/USD1).