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CBA Registers Alpha Insurance Company

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  • CBA Registers Alpha Insurance Company

    CBA REGISTERS ALPHA INSURANCE COMPANY

    Noyan Tapan
    Feb 12, 2008

    YEREVAN, FEBRUARY 12, NOYAN TAPAN. By the February 12 decision of
    the Central Bank of Armenia (CBA) Board, Alpha Insurance CJSC was
    registered and granted a nonlife insurance licence. NT was informed
    by the CBA press service that this licence gives Alpha Insurance
    the right to insure against accidents of land transport (except for
    railway transport), fire and natural disasters, accidents, as well
    as to insure responsibility caused by the use of land motor transport
    (including cargo transporting one), cargo responsibility and overall
    responsibility.

    The CBA chairman Tigran Sargsian stated in late November of 2007 that
    as a result of legislative reforms in Armenia's insurance sector and
    the introduction of international regulation standards, 6 insurance
    companies stopped operating in 2007. According to him, 9 insurance
    companies operating in late November had 38 thousand insurance
    contracts or by 30% more than 15 insurance companies had in 2006.

    Earlier the CBA chairman said that starting from 2008, first-calss
    foreign insurance companies will operate in Armenia's insurance market,
    on which the CBA has reached preliminary agreements. In his words,
    in all likelihood a British insurance company will be the first to
    work in the insurance market of our country.

    From: Emil Lazarian | Ararat NewsPress
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