Swiss Ambassador to Armenia Lukas Gasser: Switzerland will try to contribute to a peaceful settlement of the Nagorno-Karabakh conflict without questioning the established formats such as the OSCE Minsk process
by Elita Babayan
The big disproportion between the compulsory and voluntary insurance classes is a "wrong" tendency, President of RESO-Garantia Sergey Sargisov said when commenting on the situation in the Armenian market.
He said that the share of compulsory insurance classes is 30% of premiums in the insurance portfolio of RESO-Garantia. The company has managed to gain such results due to its long experience. Meanwhile, the explosive development of the Armenian insurance market coincided with the recent introduction of the compulsory insurance institute in the country, he said.
Sarkisov expressed confidence that in the course of time Armenian insurers in general and RESO in particular will be able to gain an optimal ratio of compulsory and voluntary insurance classes. "RESO is not earning money yet, but it is developing", he said. He also expressed his content with the development and quality of the Armenian subsidiary. "From now on the company will also work to improve the economic efficiency indices", he said.
According to Sarkisov, Armenia is a 'small' country with not large market, "therefore one should have no illusions or too big expectations. We hope the government will start paying more attention to the insurance sector and the people will finally realize its importance and benefit," he said and outlined the insurance of professional liability of physicians and producers of goods.
Commenting on the economic efficiency of MTPL, he said that motor third-party liabilities insurance is becoming less and less profitable in Russia, amid growing tariffs. "The current traffic of MTPL does not allow us gaining profits in the given segment," he said.
RESO Insurance Company, the subsidiary of RESO-Garantia Company, Russia, entered the Armenian market in November 2008. In June 2013 RESO Company was recognized the Best Insurance Company of the Year in the field of medical insurance at the ceremony Huso Astgh - 2013 (Hope Star).