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).