ROSGOSSTRAKH HOPES TO TAKE LEADING POSITION IN ARMENIA'S
INSURANCE MARKET SOON
17-10-2008 17:00:00 | Armenia | Economy
YEREVAN, OCTOBER 17, NOYAN TAPAN. Rosgosstrakh company
(Russia) hopes to take a leading position in Armenia's insurance
market soon, the president of Rosgosstarkh group of companies
Danil Khachaturov declared at the October 16 presentation of the
company's Armenian branch. In his words, their company, which
has so far been presented only in CIS countries, is going to
become a leader in all fields of insurance in Eastern and
Central Europe in the next 3-4 years.
D. Khachaturov said that the insurance market of Armenia is
currently quite small but the GDP growth rates are very high.
The businessman noted that Armenia is in the sphere of Russia's
business interests. In his opinion, the rapid economic
development will create demand for insurance services, and the
sooner the insurance company enters the country's market, the
greater share of the market it will have in the future.
D. Khachaturov stated that the establishment of
Rosgosstrakh Armenia company does not pursue any political goal,
while the only sujective motive is his Armenian origin. It is
noteworthy that according to Forbes, the 37-year-old businessman
is one of the richest men in Russia.
The CEO of Rosgosstrakh Armenia Gagik Grigorian said that
the company has received licences for 10 types of insurance in
Armenia, and it also plans to provide life insurance services in
the future. According to him, only 0.4% of all possible risks
are currently insured in Armenia. The country's insurance market
amounts to a sum equivalent to about 20 million dollars, 6
million dollars of which is air transportation insurance. The
company hopes to get the right for motor third-party liability
insurance and compulsory medical insurance, taking into account
the fact that these two types of compulsory insurance will be
soon stipulated by law. Rosgosstrakh Armenia also intends to
engage in insurance of business, private deposits of citizens
with Armenian banks, as well as construction insurance.
The vice president of Rosgosstrakh, television journalist
Andrey Baturin informed those present that recently several
employees of their company reached the summit of Mount Ararat
where they raised the company's flag which has been handed to
the CEO of Rosgosstrakh Armenia.