NAIRI

Nairi Insurance is the oldest insurance company operating in the Republic of Armenia. Our story began almost 3 decades ago, in the seemingly distant 1996...After the collapse of the Soviet Union, the state insurance system that had been formed for decades was also destroyed. In 1991-1996 more than 80 insurance companies were operating in Armenia, the sector was unregulated and uncontrollable, and the companies were formed and dissolved organically. 1996 was symbolic for market formation. The RA Ministry of Finance - the Insurance Inspectorate created a separate structural unit. In 1996 on November 19, the law "On Insurance" was adopted. On November 29, the government decision "On regulating the activities of insurance organisations operating in the territory of the Republic of Armenia" was confirmed. The first pillars of the legal framework for the de-monopoly of the insurance business were laid. This is how the "Nairi 96" insurance company was founded, which began to carry out insurance activities months later, in 1997.

In 2008, "Nairi 96" was renamed and became Nairi Insurance. The rebranding has become one of the most important stages in the history of Nairi Insurance. In 2021 Nair started his year in a transformed, more colourful, brighter and stronger way. A new logo, a new slogan and ambitious plans. During these 3 decades, Nairi has gone through many hardships. Financial institutions are sensitive to the events and changes taking place in the world. Nairi is a company that can make the right change and choice at the right time in order not only to maintain stability in the market but also to constantly move forward.

Nairi is in the top three of the industry and is the absolute leader in some insurance types. Nairi is the first insurance company, and today's "first" description does not refer only to the year of establishment. Let's tell a little about us in numbers: according to the data of the last 4 years, Nairi Insurance has registered a 91% increase in terms of net insurance premiums. According to the data of 2023, the share in the market is 27.3 per cent (with insurance portfolio). The share in the market is 24 per cent. We also registered a capital increase of 10 per cent.

The number of our individual and corporate clients has also increased. We have more than 250 thousand satisfied customers and about 1000 partners. According to the data of 2023, Nairi is among the 1000 largest taxpayers in Armenia.

The oldest company in the sector is at the same time the most digitized one. We were the first to launch a mobile app: Nairi Mobile, we launched a personal office for customers in the app and on the official website as well. In our app, it is possible to sign contracts, follow the progress of actions, submit a claim for compensation, etc.

As an industry innovator, Nairi is also the first and only one to test AI capabilities for vehicle damage assessment. The pilot version of the program was introduced last year, and currently, Nairi's developer team is working to fully implement this feature.

Finally, Nairi is the first and only insurance company in Armenia that has received a B1 rating with a stable outlook from the prestigious Moody's international rating agency. It testifies to the company's financial stability, transparent operation and development prospects.

Nairi is also a company that does not enjoy its success alone. He is confident that every successful company must demonstrate social responsibility, contribute to the development of the country, economy, education and various fields, and lend a helping hand when it is needed.

Along with steady development, Nairi is also expanding the team. In 1996, this story began with 5-6 employees, today there are about 250 employees (Nairyans).

To be a leader, at the same time to be reliable, trustworthy... Not only for clients and partners but also for the Nairyan team. You’re safe with us, this is not just a slogan, this is a message, a promise to all those whose life path brings to Nairi at some point, as a client, as a partner or as a teammate. This is a story where only the first pages are completed. It’s just the beginning and the most interesting is yet to come.