Ingo Armenia

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INGO ARMENIA ICJSC
Closed joint-stock company
Industry Insurance
Founded 1997 in Yerevan, Armenia
Headquarters Yerevan, Armenia
Key people
Arevshat Meliksetyan (Executive Director)
Revenue 8.98 million AMD (2016 premiums)
Number of employees
280 (2017)
Website www.ingoarmenia.am

INGO ARMENIA ICJSC (Russian: СЗАО «ИНГО АРМЕНИЯ») is one of the major insurance companies of Armenia, headquartered in Yerevan, Armenia. Since 2004, the company is the full member of largest international group "INGO", with share capital of about $ 2.5 billion and the assets around $10 billion.

Insurance CJSC "INGO ARMENIA" with 20 years of experience occupies a special place in the Armenian insurance market. Currently, the Company is the insurance market leader in most of the types of insurance. It is the absolute leader in voluntary types of insurance, and the second biggest company in terms of insurance premiums by all the types of insurance, including Compulsory Motor Third Party Liability Insurance. The company provides high quality insurance services to both for retail and corporate clients, protecting them from various risks.

History[edit]

INGO ARMENIA was established in 1997 under the name of “EFES” Insurance CJSC. On December 2003, the major part of the Company’s shares was purchased by “Ingosstrakh” Russian Insurance OJSC. Afterwards the Company was renamed into “INGO ARMENIA” Insurance CJSC.

During the first 9 months of 2012, “INGO ARMENIA” doubled its insurance portfolio and reported in the 209th position out of 1,000 largest taxpayers in Armenia, the top ranking among the insurance companies.

Based on the “Best brand and public service provider” survey by National Trust Foundation, “INGO ARMENIA” was awarded the “Best Insurer” of 2012.

Following rapid business growth, INGO ARMENIA further increased its share capital by AMD 701.6 million to AMD 1,651.0 million. The company’s total capital exceeded AMD 3 billion, which is the highest in the Armenian insurance market.

Business[edit]

Nowadays the Company functions based on APO 0005(0014) license provided by the Central Bank of Armenia, which gives the opportunity to provide services of 15 types of non-life insurance.

The Company offers following lines of non-life insurance:

  • Motor Insurance
  • Property Insurance
  • Medical Insurance
  • Personal Accident Insurance
  • General Liability Insurance
  • Financial Risks (BBB)
  • Cargo Insurance
  • Travel Insurance

Operations[edit]

"INGO ARMENIA" Insurance CJSC has 47 branches and more than 1600 agents throughout Yerevan and all major cities of Armenia.The company has around 280 employees. INGO ARMENIA is very cautious at sustaining the financial stability and focuses on building long-term relationship with world leading insurance and reinsurance companies. The company develops and implements cooperation programs with various market participants - banks, credit institutions, reinsurance companies, educational institutions, industrial and public segments, ministries and other organizations.

Corporate Social Responsibility[edit]

INGO ARMENIA organized tree planting in the park of the American University of Armenia, 2017.
INGO ARMENIA team

INGO ARMENIA has always payed significant importance to social responsibility, seeing its role beyond insurance functions and insurance products sale. Each year company carries out various initiatives promoting the development of Armenia. Special attention is paid to supporting the younger generations. For years, INGO ARMENIA sponsors the International Microelectronics Olympics organized by "Synopsys Armenia" CJSC, provides participation of children in "Tumo Center" summer camp, as well as other various applications.

In April 2017 INGO ARMENIA contributed to the city's cleanliness and landscaping work. The company organized tree planting at the park of American University of Armenia. By the efforts of the employees, the park supplemented with 4 trees: ash, maple, oak and rowan.

References[edit]

External links[edit]

Coordinates: 40°10′36.97″N 44°31′13.89″E / 40.1769361°N 44.5205250°E / 40.1769361; 44.5205250