GARANT LIMENS INSURANCE COMPANY HAS BEEN GRANTED CARGO INSURANCE LICENSE

ArmInfo
14.04.2010

ArmInfo. Garant Limens insurance company has been granted cargo
insurance license implying compensation of damages caused to cargo
irrespective of means of transportation. Such a decision was made
by the Central Bank of Armenia. Now over 10 companies provide cargo
insurance service.

According to the Ranking of Insurance Companies prepared by ArmInfo,
in 2009 the amount of cargo insurance premiums by 8 insurance companies
totalled 392.5mln AMD – 6% of the insurance market.

Garant Limens was established in 1999. It has license for 8 types of
insurance. In 2009 the company collected 220.6mln AMD in premiums –
10th place among 12 insurance companies as of Dec 31 2009. The amount
of compensations exceeded 106mln AMD.