In Armenia, Ingo insurance company has introduced a completely new product for the Armenian financial market – income protection insurance, ArmInfo reports.

“We are confident that the interest of the banking sector in the product will contribute to the formation of a new culture in the financial and insurance sectors and will help offering the best solutions for our clients”, the insurance company noted.

Ingo has been operating in Armenia since September 1997. The company is licensed for 16 insurance classes. In 2023, Ingo ranked second in the market in terms of GWP with AMD 15.3 billion (EUR 34.25 million). The company also ranked second in terms of assets (AMD 17.6 billion) and equity (AMD 5.1 billion). According to the FY2023 results, the company's net profit amounted to AMD 614 million (3rd on the insurance market).

*1 EUR = 447.90 AMD (December 31st, 2023)