Insurance company "Nairi Insurance" continues to work in normal mode

ArmInfo.The report of the State Revenue Committee of Armenia published on January 21 may be misinterpreted and may cause some concerns from customers, partners  and the general public, in connection with which the insurance  company Nairi Insurance officially announces the continuation of its  activities in normal mode.

In the statement, received by ArmInfo, the insurance company Nairi  Insurance  states that the company has always been a bona fide  taxpayer and has never, in any way, avoided paying taxes. According  to the company's management, on income tax, Nairi Insurance  paid  almost a third of the total aggregate income tax of all 6 insurance  companies operating in the country.

To recall, according to the information provided by the Armenian  State Statistics Committee on February 21, the company, according to  preliminary calculations, caused damage to the state in the amount of  200 million drams (about $ 415,000). In the framework of the  cooperation of the Investigation Department of the SRC and the  General Directorate for Combating Organized Crime (GDCOC) of the RA  Police, the management of Nairi Insurance  prepared insurance  policies with beneficiaries on behalf of various insurance  intermediaries, writing out commission fees for this. Individual  entrepreneurs who acted as insurance intermediaries turned out to be  former employees of IC Nairi Insurance, as well as other persons  interconnected with the company. The latter did not actually carry  out insurance activities, but in their names, as a commission for  intermediary services for the conclusion of insurance contracts,  Nairi Insurance listed large sums of money. In fact, a criminal case  has been initiated in the police department of the Republic of  Armenia on grounds of part 2, art.205 (evasion of taxes, duties and  other obligatory payments) of the Criminal Code of Armenia.

The next day, "Nairi Insurance", in response to the accusations of  the State Revenue Committee, officially stated that the SRC employees  did not visit the insurance company to conduct inspections, and it is  unclear what abuses and estimates are involved in the SRC report and  on what facts it is based. The statement notes that Nairi Insurance  LLC will take the necessary steps within the framework of the law to  protect its rights and legitimate interests in order to rule out any  attempt to discredit the business reputation and authority of the  company and to bring to justice the perpetrators of such cases to the  fullest extent of the law.

To note, "Nairi Insurance" company has been operating in the  insurance market of Armenia since December 1996. The company renewed  its license for non-life insurance in March 2008. In the list of the  largest taxpayers in the country for January - September 2018, the  company ranked 488, and among insurance companies - the third place.  In total, for the first 9 months, the company paid 205 million drams  to the budget, and 175.7 million drams for direct taxes (profit and  income taxes).

To recall, according to the official website of the company, Levon  Kocharyan is the holder of 60% of the company's share. It is known  that he is the son of the second Armenian President Robert Kocharyan.  40% of the share belongs to another individual Vahagn Khachartyan.