More than 20 years "Prime" expands and improves the range of its services for the
’ risk management, as the provider of insurance brokerage services in the insurance market of Armenia.
Professionalism in the process of assessment and reliable placement of risks,
Flexibility in receiving the most favorable conditions for an insurance coverage,
Promptness in the arrangement process of insurance issues,
Clients’ information confidentiality,
Providing Insureds’ interests protection by assistance in the pre-contractual processes and support of ongoing insurance policies,
Organization of effective cooperation among insurance participants,
Insurance claims settlement and compensation process.
Updated at 27.12.2016
Individual approach in the selection of risks which require insurance protection and tailor made for client’s individual needs.
Drafting insurance policies and assistance in claims settlement process in prompt terms.
Employees with professional background and qualified in world top ranked insurance companies.
Ensuring the reliability of insurance claims payments due to risk diversification and professional assistance.
Non-disclosure information confidentiality within provision of services.
The company was established by two individuals and after obtaining the "Insurance intermediary (brokerage) activities" license ԱՄԳ N 0001 of the Ministry of Finance of RA on February 10, 1997, was relicensed as an independent legal entity providing insurance brokerage services.
Activities of the company are licensed:
4, February, 2000 - Ministry of Finance of RA
18, March, 2003 - Ministry of Finance and Economy of RA
29, January, 2008 - Central bank of RA
09, September, 2014 - Central bank of RA
The company is registered in the State register of the entities of RA with the number 273 11001758, registration certificate 01 Ա N 032261.
Coordination of company's educational and methodological programs
Tel.: +374 10 52 64 18 - 14
Mob.: +374 55 00 21 68
Registration and License
The company is registered in the state register of RA as limited liability company, having the status of commercial enterprise and being the independent legal entity with performance of insurance intermediary activity based on the termless license ԱՊԲ N 0001 granted by the Central bank of RA on 09 September 2014.
Insured, an insurance agreement party, who receives insurance indemnity in case a contractual event occurs (insurance case), and also indicates the person (beneficiary) to whom the insurance indemnity is to be provided.
Insurer, commercial organization engaged in insurance activity licensed in accordance with the legislation of the Republic of Armenia.
Insurance agent, implements insurance intermediary activities on behalf of RA insurers and under their authority.
Insurance broker, commercial organization licensed for insurance brokerage activities in RA, implementing insurance intermediary activities on behalf of insureds, and in case of reinsurance on behalf of insurance companies.
2. How is the insurance process implemented?
It is necessary to choose an insurer and provide as much complete information about the insurance object as possible,
Get acquainted with proposed insurance conditions, paying special attention to the exceptions and reimbursement conditions,
Receive insights and clarifications from insurer on the procedures and their supervision provided by the contract,
Sign the insurance contract and strictly comply with the requirements of the insurer during its operation.
You can use insurance broker's services to select insurance company and insurance conditions.
3. How is the insurance premium determined?
Insurance premium can be determined by the following formula after an insurer has agreed upon the sum insured and stated the applicable rate.
Insurance premium = sum insured x rate4. In what cases insurance indemnity is provided?
Insurance indemnity is provided when an accident has a random character and the insured could not prevent it, and if the very accident is not included it the exclusion list of the contract.
5. What does "all risks" insurance mean?
"All risks" insurance implies insurance coverage for a relatively broad range of risks, still it does not mean that all possible accidents are indemnified, as "all risks" insurance also has a list of exceptions.
Updated at 03.10.2017
"Prime" has organized an exhibition of children's drawings titled "Insurance through our eyes" jointly with the Artists' union of Armenia and National center of Aesthetics named after Henrik Igityan devoted to the International Children's Day. The exhibition was held in the Museum of children's creativity. The opening ceremony of the exhibition took place on June 3, 2017. Famous artists, teachers of the museum, the staff of insurance and brokerage companies with their families were the guests of an occasion. The artworks of children were presented in the exhibition whose parents work in the insurance sphere.
“Swiss Re”, one of the leaders of global reinsurance market, confirmed its agreement to sign the general property risks reinsurance Treaty with five Armenian insurance companies, with the participation of “Prime”.
According to the Treaty, “Prime” acts as a reinsurance broker with complete powers of agreement assistance.
On 22-23 November, 2016 15th November Business Meetings of reinsurers took place in Moscow, with participation of 99 companies from 21 countries.
Regular participation of “Prime” at business meetings gave an opportunity to discuss tendencies of reinsurance market development and coordinate the organization of reinsurance issues in 2017.
Updated at 05.06.2017
Shareholders and Investors
“Prime Insurance Brokers” is a limited liability company which doesn’t perform public distribution of securities. The company has two considerable participants who have the right to obtain any information on financial and economic activities of the company without restrictions.
The company considers inexpedient the publication of data on the website according to the provision N 8/03, 4th chapter, point 25, subparagraph 4 approved by the Central Bank of RA Board’s decision “About the data publication of banks, credit institutions, insurance companies, insurance brokers, investment companies, the central depositary and settlement organizations implementing remittances”.
"Publication of data by banks, credit organizations, insurance brokers, investment organizations, the Central Depository and payment and settlement organizations dealing with money transfers", Regulation 8/03. Adopted by the decision No 166 Н of the Board of the Central Bank of the Republic of Armenia
on June 2, 2009, the title was supplemented by the decision No 210 Н of the Board of
the Central Bank of the Republic of Armenia on August 16, 2011.
(Published in the Armenian language)
For contacting us, please visit the section Contacts.
An insured or a person who has received insurance services as a physical person, has an opportunity to resolve disputes and protect his/her rights and interests by applying to the Financial System Mediator.
Updated at 22.06.2017
Financial System Mediator
The client who acts as an individual has an opportunity to address the Financial system mediator and protest the actions of “Prime Insurance Brokers” or individuals performing activities on behalf of the company, if:
The company doesn’t fulfill or fulfills not completely the liabilities provided by the signed contract, agreement or agreement established otherwise,
The company refuses the provision of services or prevents agreement establishment.
Office of Financial system mediator:
Address: Street Khorenatsi 15, Yerevan, 0010, RA.
"Elite Plaza" Business center, 7th floor.
Tel.: +374 60 70-11-11
Fax: +374 10 58-24-21
Working hours of the office: 09:00 - 18:00, except weekends and holidays, break: 13:00 - 14:00.
Updated at 27.12.2016
Armenian National composer and pianist of the USSR Arno Babajanyan's fantasy on "Call me" sounds on the website. In case of disparity among texts in Armenian, Russian and English languages, the Armenian variant is preferable. "Prime Insurance Brokers" LLC doesn't bear responsibility for the accuracy and reliability of the content of other websites placed in its own website.