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 3Q2020 Insurance Companies Rankings

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Armenia 3Q2020 Market Portfolio

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Latest news

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.

ARMENIA's car insurers' bureau awards three winners of contest

Armenia's Car  Insurers' Bureau has selected three winners of a contest for the best amateur video about the mandatory insurance of vehicles, the director of the Bureau Artem Nazaryan said today at an event  marking  its fifth anniversary.

STATISTICS: ARMENIA, FY 2014: The market's results have significantly deteriorated

If in the first half of 2014, the Armenian insurance market stagnated, despite a certain growth of the key indicators, for the entire 2014, the market's results significantly deteriorated. Namely, gross written premiums decreased by nearly 13%, compared with claims that increased almost twice (22.86%). The largest growth of claims, 138.51%, was reported on the accident insurance segment, the most popular type of insurance in Armenia.

ARMENIA's finance and insurance companies boast highest gross median monthly salary

Armenia's finance and insurance companies boasted the highest median gross monthly salary in September 2014 - 353,383 drams- a 1.7 percent rise form the same time span in 2013, according to the latest numbers, released today by the National Statistical Service (NSS). The second and third highest gross monthly salaries were reported by IT and communications companies -329,600 drams and the mining industry -320,100 drams.

ARMENIA to implement its first breeder's insurance pilot project soon

The livestock insurance pilot project to be implemented in Vayots Dzor of Armenia will be the first agriculture insurance program in the country, deputy minister of agriculture Samvel Galstyan said. The minister of agriculture Sergo Karapetyan personally negotiated with a number of countries and international organizations on the project, he told a press conference on Tuesday.