INGO Armenia may become a pioneer in offering agricultural insurance in republic

YEREVAN, October 3. /ARKA/. INGO Armenia company intends to become a pioneer in offering agricultural insurance in the republic, Ingo Armenia Board President, a deputy head of Ingosstrakh Tatyana Kaygarodova told journalists Wednesday at the press conference dedicated to the 15th anniversary of the company.

“We have experience in agricultural risks insurance. We insure agriculture in Russia and Ukraine quite actively, and we are the leaders in this kind of insurance,” she noted.

According to her, Ingosstrakh’s experience will be introduced in Armenia after the preliminary detailed underwriting. 

“We are not concentrating on risks in one place in Russia, as different time zones have various climate conditions, and we can get best results if we distribute portfolios between the regions rationally. In Ukraine our risks are more concentrated. I think, Armenia is more like Ukraine in this case,” she added. 

Kaygaradova highlighted that the company is ready to offer agricultural insurance taking into account all risks, and “if we have too much loss, we will repay everything and next time we’ll be more accurate and detail oriented and will change the underwriting principles.”

Referring to new categories of insurance in Armenia, such as medical insurance, insurance of dangerous industrial objects, she said all these insurance types are well developed in Ingosstrakh Moscow. 

“The moment Armenia implements the necessary legislative initiatives, we will launch the process of designing the appropriate law bills, and we intend to become a leader in this kind of insurance,” she added.

As of now Ingo Armenia primarily offers medical, tourist insurances, mandatory car insurance, real estate insurance, cargo, responsibility, aviation risks, construction-mounting, financial institutions, accident insurances. 

INGO Armenia” was established in 1997 as Closed Joint Stock Insurance Company “Efes”. In December 2003, 75% of the company’s stock was obtained by the Russian company “INGOSSTRAKH” after which it was renamed “INGO Armenia”. Levon Altunyan (Armenia) holds 25% of shares. Charter capital of the company is 750.9 million drams. ($1 – 407.09 drams). —0-