Structure

The governing bodies of the Union of Insurers of Armenia (UIA) are the General Meeting of Members, the Board of the Union, and the Union’s executive body — the Chair of the Board.

The Ordinary General Meeting is convened annually, no later than six months after the end of the financial year. The General Meeting is chaired by the Chair of the Board or, in their absence, by the oldest member of the Board.

Each member of the Union is entitled to one vote at the General Meeting.

The General Meeting has the authority to make final decisions on any matters relating to the activities of the Union.

The Board of the Union is elected by the General Meeting for a five-year term. The executive directors of the Union’s member organizations are eligible for election to the Board. Where the General Meeting resolves that the number of Board members shall be equal to the number of the Union’s members, all executive directors of member organizations shall be included in the Board without the need for an election.

The Union’s executive body — the Chair of the Board is appointed by the General Meeting. Candidates for this position must have at least 10 years of professional experience in the financial and insurance sector, including at least 5 years of managerial experience.

The current Chair of the Board of the Union of Insurers of Armenia is Gayane Gasparyan.