The number of insured cars has grown from 390,457 in 2011, when
mandatory car insurance was introduced in Armenia, to 457,878 in 2015,
Vahan Avetisyan, executive director of the Car Insurers Bureau, said
Tuesday at a news conference summarizing the results of the first five
years of obligatory car insurance in the country.
Armenia intends to become a member of the Green Card International Motor Insurance System, said Vahan AVETISYAN, Executive Director of the Armenian Motor Insurers Bureau, according to ArmBanks website.
All six Armenia-based insurance companies were among the largest 1000
corporate taxpayers in 2015 having paid a total of 1.77 billion drams in
various taxes, down from 1.97 billion drams they had paid in 2014, the
State Revenue Committee, an affiliation of the ministry of finance,
In the first nine months of 2015, the six active insurance companies of the Armenian market underwrote AMD 22.5 billion gross premiums, up by 0.13% y-o-y. Compared with the first quarter of 2015, GWP in the third quarter were down by 23.5%, according to АРКА news agency. At the same time the indemnities paid by local insurers totaled AMD 9.5 billion.
Ardshinbank and INGO ARMENIA insurance company are recognized the best
organizations cooperating with the Armenian financial ombudsman office
in 2015, Armenian Financial Ombudsperson Piruz Sargsyan said Monday at a
In 2015, drivers in Armenia paid a total of 17.660 billion AMD (USD 36.360 million) to insure their vehicles. Rosgosstrakh-Armenia,
the company enjoying the largest share of the market received 5.761
million AMD in insurance payments last year; followed by Inco (3.914
million), Nairi (2.873m), Sil (2.037m), Reso (1.892m) and Armenia
All six Armenia-based insurance companies paid a total of 8.7 billion
drams in 40,939 car insurance compensation claims in 2015, a decrease of
12.7% compared to the previous year, a statement posted on the official
website of Armenia's Car Insurers' Bureau says.
Bloomberg predicts 2.5% economic growth in Armenia in 2016. This is according to the rating of 93 countries with the worst economic indicators published by the agency. It's
worth mentioning for comparison that the World bank predicted 2.7%
economic growth for Armenia, the International Monetary Fund- 2.2%, the
European Bank for Reconstruction and Development- up to 2% , while the
Asian Development Bank predicted an increase of 2%.
The median gross wage in Armenia in November 2015 stood at 181,982 drams
(USD 379 or 24,659 Russian rubles), a 0.3% rise from October, according to
the National Statistical Service (NSS). NSS said in 2015 October
the median gross wage was 181,391 drams, about 0.9% less than in
September 2015 and 3.9% more than in October 2014.
Armenia's Central Bank reduced refinancing rate from 9.75% to 8.75%. As the bank's press-service informed ArmInfo, the decision was made on December 22 at the Session of the Board of Central Bank.
The public opinion poll conducted by Gallup International Association in
Armenia has demonstrated that VTB Bank (Armenia) is the most popular
among the financial-credit organizations of Armenia, Aram Navasardyan,
Founder and Director at MPG LLC - Exclusive Representative of Gallup
International Association in Armenia, told reporters on December 18.
Fitch Ratings reported a "negative" outlook for Armenia by sovereign rating and banking sector rating for 2016.
Six Armenian insurance companies collected a total of 12.7 billion drams in mandatory vehicle insurance premiums in the first 9 months of 2015 and paid 6.1 billion drams in compensation claims, according to ARKA news agency's latest bulletin "Insurance Companies of Armenia" for the third quarter 2015.
Six Armenia-based insurance companies collected a total of 22.5 billion
drams of insurance premiums in the first 9 months of 2015, a 0.13%
year-on-year growth, but when compared to the beginning of this year
they were down by 23.5%, according to ARKA news agency's third quarter
bulletin "Insurance companies of Armenia."
Net income of Armenia-based six insurance companies in the first 9
months of 2015 grew to 2.394.1 billion drams from 2.056.3 billion drams
in the same time span of 2014, according to ARKA news agency's latest
bulletin "Insurance Companies of Armenia" for the third quarter of 2015.
ROSGOSSTRAKH Armenia, a subsidiary of Russian Rosgosstrakh insurance company, has announced it is the first player of local market surpassing 1 million mandatory MTPL policies sales. The company sees this performance as the result of the the high level of citizens' trust in their services.
In the first half of 2015, GWP by the Armenian insurance companies increased by almost 2%, to AMD 16,004 million. At the same time there was recorded a significant decrease of the paid indemnities, by 55%.
VTB Bank (Armenia) has unveiled today new four types of insurance
products, which it said were designed to make the everyday life of its
clients more comfortable, saying some of them are 'unique' in the
By Jul 1, 2015 insurance companies' assets totaled 39 bln AMD with 5.1% yoy fall. In Q2 the decrease indicator totaled 2.8%. By
the Ranking of insurance companies of Armenia, prepared by ArmInfo News
Agency, four of the six operating companies registered a fall with RESO
taking the first place - 25% (amid 6.9% quarter decrease). Ingo
Armenia's assets decreased by 9.6% (amid 4.5% quarter fall). Nairi
Insurance was registered to have 2.6% fall (amid 8.9% quarter growth),
while Rosgosstrakh Armenia reduced its assets by 2% (amid 5.1% quarter
decrease). Sil Insurance has shown 20.3% yoy growth (amid 4.6% quarter
growth) and Armenia Insurance - 2.5% growth (amid 6.2% quarter fall).
As of Jul 1, 2015 the net worth of the 6 operating insurance companies
in Armenia totaled 14.9 bln AMD with a 4.5% yoy growth. In Q2 the
indicator decreased by 1.2%. By the Ranking of the Armenian insurance
companies, prepared by ArmInfo News Agency, 87,6% or 13.1 bln AMD
accounted for the registered capital in the net worth structure.