INSURANCE COMPANY GRAND INTENDS TO START LIVE INSURANCE
YEREVAN, APRIL 14. ARMINFO. The insurance company Grand will start
insuring life within the nearest future, Director of the company Artak
Antonyan informs ARMINFO.
He says that the license for life insurance was received in December
of 2004. IC Grand has already started negotiations with several
foreign companies. “I have some concern that this type of insurance is
economically unprofitable. But we approach this issue from the other
side. Insurance needs development in Armenia and in particular life
insurance,” Antonyan says. He says that this type of insurance is not
enough in demand yet. The company intends to start insurance of life
in order the population get familiar with it and understands its
necessity. After introduction of this type of insurance, the company
plans to start money making and pension insurance. Antonyan thinks
that the pension insurance is favorable both to insurer and
insurable. One can invest the accumulated funds in other projects and
receive incomes, Antonyan says. He thinks it is also favorable to the
insurable as he will not only receive state pensions, but also
insurance pension much more exceeding the first one. Factually, it is
the second insurance company in Armenia after IC INGO Armenia to be
engaged in life insurance.
To note, according to data of the rating of the leading 11 insurance
companies of Armenia of the Agency for Rating Marketing Information
(ARMINFO), IC Grand occupies the second place as to the size of assets
– 767.9 mln AMD. As to the volume of the insurance premiums, the
company is in the forth place – 231.2 mln AMD, as to the volume of the
paid insurance compensation – in the tenth place – 2.252 mln AMD. As
regards the net profits – the company is in the 5th place – 7.9 mln
AMD. The size of the authorized capital of IC Grand totals 1-00 mln
AMD at present.