OREANDA-NEWS. July 09, 2012. In June 2012, the merger of business of INGO Armenia and KASKAD Insurance insurance companies came to an end. The transfer of KASKAD Insurance company’s insurance portfolio to INGO Armenia insurance company was authorized by the decision of the Central Bank of Armenia.

As a result of assets merger, an unprecedentedly large company with the insurance portfolio of over 8.7 bn. drams was established on the Armenian insurance market. The main package of shares belongs to the institutional investor — the Russian company, Ingosstrakh.

Today the business processes of the two organizations have been fully merged. The new insurance company received a unified team of specialists in the sphere of insurance and has the most diversified network of branches and representations in the Republic of Armenia.

Tatyana Kaygorodova, Deputy General Director of Ingosstrakh Insurance Company, comments: “The merger of the two companies resulted in creation of an integrated insurance structure, which allows to reach a principally new level of work and considerably increase the quality of provided services, which will be comparable to international standards accepted in INGO group. This first of all covers the customer service, as well as document flow. The terms of servicing in customer offices will be considerably reduced, the range of programs will be replenished by relevant products, the branches will have the working hours suitable for customers: these are just some of the innovations, which our insurants will be able to appreciate very soon”.

The INGO International Insurance Group (IIG) was established in 2004. it unified insurance societies, as well as the companies providing auxiliary services in relation to insurance and reinsurance, whose controlling interest is managed by Ingosstrakh Insurance Company. INGO’s strategic goal is to build up a highly integrated insurance commonwealth, which can ensure achievement of leading positions on the target insurance markets by companies of the group, and also development of cooperation in the sphere of insurance and reinsurance operations to provide the customers with reliable financial protection of their interests.

Today INGO IIG members, besides Ingosstrakh Insurance Company, include six companies abroad, as well as seven companies within RF territory: INGO Ukraine (Ukraine), INGO Ukraine Life (Ukraine), BelIngosstrakh (Republic of Belarus), INGO Armenia (Republic of Armenia), Kyrgyzinstrakh (the Kyrgyz Republic), INGO Uzbekistan (Uzbekistan), Ingosstrakh Life Insurance Company (Russia), Ingosstrakh-M Insurance Company (Russia), Emergency Insurance Company (Russia), EMESK (Russia), TIM Assistance (Russia), a network of “Be Healthy” policlinics (Russia), Ingosstrakh-Investments (Russia).