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Moody International confirms Rosgosstrakh-Armenia's compliance with international standards
- Thursday, February 28, 19:34
Moody International's audit in Feb 2013 has confirmed Rosgosstrakh-Armenia's compliance with international standards.
The press service of Rosgosstrakh-Armenia reports that the auditors have checked up the quality of the company's property and life insurance and reinsurance services and have inspected its loss adjustment centers, with no deficiencies found.
"We are committed to develop Armenia's insurance market, but we will not be able to do it unless we are ahead of it. You have said that we are moving in the right way. So, we just need to work hard to achieve our goals. Our key result for the moment is our content customers," Executive Director of Rosgosstrakh-Armenia Gagik Grigoryan said during a meeting with Moody's auditors.
Rosgosstrakh-Armenia is the only insurance company in Armenia that has received an ISO 9001:2008 certificate from Moody International (in Dec 2011).
According to the Ranking of Insurance Companies of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), Rosgosstrakh Armenia is in the lead by the total volume of insurance premiums, which amounted to 8 bln AMD by 1 Oct 2012 (38.2% y-o-y growth). In terms of property insurance, the company is among the top three insurance companies with about 406 mln AMD premiums (almost 40% y-o-y growth). So is it in terms of health insurance - 2.4 bln AMD (almost 10-fold y-o-y growth). In Jan-Sep 2012 Rosgosstrakh Armenia secured insurance profit at 4.6 mln AMD and found itself among the top three.
The company has 1736 agents, of which 1410 are individuals. As of 1 Oct 2012, Rosgosstrakh Armenia provided insurance services of 15 classes.
To note, Rosgosstrakh Armenia was founded in May 2008. It is a member of Rosgosstrakh Group (Russia), which owns 100% of Rosgosstrakh Armenia's shares. The company has 46 offices throughout Armenia.