Location map
author: OCHA/ ReliefWeb

- Southwestern Asia.
- Neighbours: Turkey, Georgia, Azerbaijan, Iran.

- highland continental, hot summers, cold winters.

Natural hazards:
- occasionally severe earthquakes; - droughts.

Macro indicators
* 2018 estimates
Pop. density*:100.5people/km2
GDP*:11.0EUR billion

Currency: Dram

Code: AMD
Since: 1993

Insurance market portfolio
* 2018 estimates
Overall Property*:9%
Overall Motor*:54%




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Armenia 1H2020 Insurance Companies Rankings

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Armenia 1H2020 Market Portfolio

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Latest news

ARMENIA: Number of insured cars has grown from 390,457 in 2011 to 457,878 in 2015

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, 3Q2015: GWP up by 0.13%

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.

ARMENIA: Vehicle Owners Paid USD 36.3 Million for Insurance in 2015

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 Insurance (1.182m).

Bloomberg predicts 2.5% economic growth in ARMENIA

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%.

ARMENIA: Median gross wage in Nov. 2015 amounted to 181,982 drams

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: VTB Bank and Rosgosstrakh are most popular financial institutions

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. 

ARMENIA: Net income of insurers in 3Q2015 grew to AMD 2.394.1 billion

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.

ARMENIA: VTB bank unveils new insurance products

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 Armenian market.

ARMENIAN Insurers Assets down by 5.1% yoy and by 2.8% in Q2

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).

ARMENIAN Insurers Increasing Net Worth by 4.5% yoy with a 1.2% Quarter Decrease

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.