{"id":38755,"date":"2012-07-02T15:52:08","date_gmt":"2012-07-02T15:52:08","guid":{"rendered":"https:\/\/armbanks.am\/2012\/07\/02\/235917\/"},"modified":"2024-12-15T12:58:20","modified_gmt":"2024-12-15T12:58:20","slug":"armenian-central-bank-registers-merger-of-two-insurance-companies","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2012\/07\/02\/38755\/","title":{"rendered":"Armenian Central Bank registers merger of two insurance companies"},"content":{"rendered":"<p><strong>YEREVAN, July 2. \/ARKA\/. <\/strong>Armenia\u2019s Central Bank has approved a merger of  Cascade Insurance and INGO Armenia insurance companies. A statement on Russian Ingosstrakh insurance company, the parent company of INGO Armenia, said in a statement on its official website that the merger has created an \u2018unprecedented\u2019 large company with an insurance portfolio of over 8.7 billion drams.<\/p>\n<p>The basic package of shares in the merged company is owned by Russian Ingosstrakh.<\/p>\n<p>Tatiana Kaigorodova, a deputy CEO of Ingosstrakh is quoted as saying that the merger has resulted in an integrated insurance structure, which allows moving to a new level of performance and dramatically improving the quality of services, which will be comparable with international standards adopted by INGO group.<\/p>\n<p>She said as a result less time will be spent on serving a client and the merged company\u2019s branches will shift to a convenient schedule for clients.<\/p>\n<p>&#8220;The new insurance company has a very skilled staff and the most extensive network of branches and representative offices in Armenia&#8221;, the statement said.<\/p>\n<p>The INGO International Insurance Group, created in 2004, includes insurance companies, as well as companies providing auxiliary and reinsurance services.<\/p>\n<p>INGO ARMENIA was founded in 1997 as an insurance company Efes. In December 2003, 75% of its shares were acquired by Russian Ingosstrakh, after which the company was renamed INGO ARMENIA. Its charter capital stands at 750 million drams.<\/p>\n<p>Cascade Insurance was recorded October 13, 2004. Its shareholders are JSC Cascade Capital Holding  (65%) and the European Bank for Reconstruction and Development (35%). -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Armenia\u2019s Central Bank has approved a merger of Cascade Insurance and INGO Armenia insurance companies. A statement on Russian Ingosstrakh insurance company<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12149,9216],"tags":[12762,12361,15499,13060,310],"class_list":{"0":"post-38755","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-insurance-market","7":"category-news","8":"tag-cascade-insurance","9":"tag-cba","10":"tag-ingo-armenia-2","11":"tag-insurance-market","12":"tag-310"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/38755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=38755"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/38755\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=38755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=38755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=38755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}