Net profit of INGO Armenia insurance company planned at 200mln drams in 2009
29.05.2009,
19:18
Net profit of INGO Armenia insurance company is expected to be 200mln Drams in 2009 against the target level of 400mln Drams, Executive Director of the company Levon Altunyan said in his interview to ARKA Agency.
YEREVAN, May 29. /ARKA/. Net profit of INGO Armenia insurance company is expected to be 200mln Drams in 2009 against the target level of 400mln Drams, Executive Director of the company Levon Altunyan said in his interview to ARKA Agency.
The company is to ensure the profit at the cost of insurance premiums attracted rather through the company’s active efforts that owing to the market situation, Altunyan said expressing belief in the company’s potential.
He also pointed out that the company plans to ensure a positive profit indicator by the end of 2009, as well as raise policy holders’ confidence through full compensation of insurance payments.
Net profit of INGO Armenia totaled 218mln Drams in the first quarter of 2009 – a 2.7-time increase against the level of the same period of last year.
The company gained the highest profit among insurance companies of Armenia over the reporting period – 132.6mln Drams. At the end of the fourth quarter 2008 the company had the highest profit from insurance activities – 517.5mln Drams.
INGO Armenia closed joint stock company was founded in 1997 and was operating under Efes name in the beginning.
In 2004 Russian INGOSSTRAKH purchased 75% of the company’s shares and the company was named ING (Russia), IngoNorm (Finland), Garant (Austria), INGO UKRAINA afterwards.
The company was recognized as the leading insurance company of Armenia in 2005-2008 and had the leading positions on collection of insurance premiums and payment of insurance compensation that totaled 1.948bln Drams and 461.945mln Drams in 2008 respectively.
The company’s assets amounted to 2.015bln Drams by the end of 2008. The company has licenses for 11 kinds of insurance including reinsurance. It offers about 30 various policies and insurance kinds, including property insurance, car insurance, medical insurance, tourism insurance, freight insurance and etc. ($1=370.89Drams).–0--
The company is to ensure the profit at the cost of insurance premiums attracted rather through the company’s active efforts that owing to the market situation, Altunyan said expressing belief in the company’s potential.
He also pointed out that the company plans to ensure a positive profit indicator by the end of 2009, as well as raise policy holders’ confidence through full compensation of insurance payments.
Net profit of INGO Armenia totaled 218mln Drams in the first quarter of 2009 – a 2.7-time increase against the level of the same period of last year.
The company gained the highest profit among insurance companies of Armenia over the reporting period – 132.6mln Drams. At the end of the fourth quarter 2008 the company had the highest profit from insurance activities – 517.5mln Drams.
INGO Armenia closed joint stock company was founded in 1997 and was operating under Efes name in the beginning.
In 2004 Russian INGOSSTRAKH purchased 75% of the company’s shares and the company was named ING (Russia), IngoNorm (Finland), Garant (Austria), INGO UKRAINA afterwards.
The company was recognized as the leading insurance company of Armenia in 2005-2008 and had the leading positions on collection of insurance premiums and payment of insurance compensation that totaled 1.948bln Drams and 461.945mln Drams in 2008 respectively.
The company’s assets amounted to 2.015bln Drams by the end of 2008. The company has licenses for 11 kinds of insurance including reinsurance. It offers about 30 various policies and insurance kinds, including property insurance, car insurance, medical insurance, tourism insurance, freight insurance and etc. ($1=370.89Drams).–0--
