Head of Armenian Military Insurance Fund resigns

YEREVAN, April 13. /ARKA/. Varuzhan Avetikyan, head of the Armenian Military Insurance Fund, has announced today his resignation, saying in a Facebook post that his decision was prompted by new challenges faced by the organization. He also said that his resignation had been discussed with the newly appointed Board of the Fund.  

"The Fund should be managed not by a pro bono director, but by a full-time one ," said Avetikyan. He said the 44-day war in Nagorno-Karabakh in autumn 2020 and its consequences have changed a lot. “The time has come for the Fund to enter the transformation phase,” he said.

Avetikyan said until the election of a new head he will continue to fulfill his duties. According to him, in recent months, with the financial support of the Central Bank, a lot has been invested in the infrastructure of the Fund, its software and IT systems to ensure proper and uninterrupted service of the beneficiaries.

According to Avetikyan, the Fund is currently paying compensation to the families of 1,939 killed servicemen, 265 seriously wounded servicemen and 1,055 families of missing persons.

According to him, after the last war, the Fund managed to collect more than 8 billion drams in donations from more than 40 countries.

The Military Insurance Fund was created to ensure social welfare, stable and various insurance compensations for servicemen and families of servicemen who died, went missing or were disabled during the defense of the country. -0-