YEREVAN, APRIL 18, NOYAN TAPAN. The Central Bank of Armenia (CBA) is taking measures aimed at development of methodology and order of licensing of actuary activity. Hrachia Petrosian, Head of the Actuary Analysis Office of Nork CJSC, told NT correspondent about it. According to him, their office, which is the only one in Armenia, tries to cooperate with insurance companies, taking into account the work done by the CBA, as the field of actuary activity is in the process of formation and has not been fully regulated. He said that the CBA has much to do in terms of substantiating the insurance tariffs, and the first steps in this direction have already been taken: insurance companies submit reports to the CBA by presenting them in the administrative statistical form established by the CBA. "We are trying to form the market of specialized (actuary) services, after which we will attempt to provide services in line with certain standards," the head of Nork's actuary office said. Particularly, an attempt is made to cooperate with the CBA for solution of licensing problems, as well as to act as a third - expert party in the CBA's work with insurance companies. In the words of H. Petrosian, banks will also have a relation to actuary activity because they will also be interested in working with independent actuaries for assessment of their activities and the borrower risk insurance tariffs. He said that all this will create an opportunity for precedents of consulting organizations' unification in the actuary activity sector, as well as in the sphere of lawyer activity.

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