ARMENIA: January-September insurance portfolio of Export Insurance Agency of Armenia up 1.76 times y-o-y

16 October 2019 — Marina MAGNAVAL
From January to September 2019, the insurance portfolio of the Export Insurance Agency of Armenia increased by 1.76 times, to AMD 6.28 billion (~EUR 12 million), according to Tigran KHACHATRYAN, the Armenian Minister of economy, as ArmInfo reports.

According to KHACHATRYAN, the insurance premiums for the period also went up by 1.82 times, amounting to AMD 64.4 million (~EUR 0.12 million).

The Export Insurance Agency of Armenia was established in 2013 within the export-oriented industrial policies and provides insurance coverage to exporting companies - residents of Armenia against incurred financial losses in case of non-payment for goods by foreign buyers or banks. The provided insurance services are an effective solution for managing export risks in country, as the sole shareholder of the company is the Republic of Armenia, as ArmInfo wrote.

*1 EUR = 519.81 AMD (30.09.2019)

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