Reso Garantia hopes to start making profits in Armenia
YEREVAN, September 18. / ARKA /. Sergey Sarkisov, Reso-Garantia insurance company board chairman, said the company hopes not only to expand in Armenia but also to make profits for its “We hope that the quantity will finally translate into quality, and we will start making money here for our shareholders.
But we are pleased with the development pace, the quality of work, and now we will work more to improve our basic indicators,’ he said at the opening of the company's head office in Yerevan.
RESO Garantia is owned by CIS Equity Partners ltd and Poligrafia cjsc, each holding a 50 % stake in the company.
Sarkisov added that the Armenian insurance market is small, so they do not have high expectations of it.
"A small market, a small country, so there should be no illusions and high expectations, but we see that the government is supportive, and hope people will understand that they need insurance," he added.
RESO Garantia insurance company is part of Russian RESO Group, which has more than 30 companies operating in the insurance, pension , property development , automotive , medical and leasing markets of Russia and other CIS countries.
According to ARKA news agency’s data, in the second quarter of the year Reso-Garantia’s assets in Armenia stood at 10.1 billion drams, liabilities at 8.8 billion drams and the capital at 1.3 billion drams. -0-