According to the Bureau of Motor Insurers of Armenia, the number of vehicles with MTPL policy increased by 9.6% in 2021 (after a decline of 12.4% in 2020), however, it is still far from the pre-Covid growth of 18.5% in 2019, ArmInfo reports.

According to the Bureau of Motor Insurers of Armenia, the number of vehicles with MTPL policies is gradually recovering growth rates and in January-November 2021 grew by 8.3% y-o-y but is still far behind the "precovid" growth rates of 14.2% over the same period in 2019.

In 2021, the number of insurance agreements under the pilot agroinsurance program tripled compared to 2020, reaching 4,300 units (vs 1,345 insurance agreements in 2020), as reported by Ira PANOSYAN, head of the Department of Economics for development of agricultural programs, ArmInfo reports.

According to the Bureau of Motor Insurers of Armenia, the number of vehicles with MTPL policy in January-September 2021 increased by 1.3% y-o-y (vs a decline of 3.6% a year earlier for the same period), however, it is still far behind the pre-covid growth rate of 14.3 % for the same period in 2019.

The Armenian insurance sector at the end of 3Q2021 increased by 12.13% y-o-y, reaching AMD 37.93 billion (EUR 68.14 million). At the same time, the increase in paid claims was even more significant - by almost 18% to AMD 20.20 billion, according to the data on the activities of insurance companies provided by ArmInfo.

From January to September 2021, the volume of taxes paid by Armenian insurers amounted to AMD 2.1 billion (~EUR 3.73 million*), which is 31.3% more y-o-y, ArmInfo reports. Of this amount, AMD 1.8 billion fell on direct taxes (+28.6%).

According to the Bureau of Motor Insurers of Armenia, the number of vehicles with MTPL policy increased by 1% y-o-y in January-August 2021 (vs a decline of 2.9% a year earlier), however, this growth is still very far from the pre-covid rate of 13% (same period in 2019), ArmInfo reports reports.

In the first half of 2021, GWP in the travel insurance segment in Armenia increased by 70% (vs a decline of 46.4% a year earlier), reaching AMD 235.9 million (EUR 0.4 million*), ArmInfo reports.

The insurance sector of Armenia in 1H grew by 9.45% to AMD 26.57 billion (EUR 45.06 million). At the same time, paid claims expanded by more than 20% and amounted to AMD 11.30 billion, according to the data on the activities of insurance companies provided by ArmInfo.

According to the 1H2021 results, corporate insurance continues to dominate in the GWP portfolios of Armenian insurers - 57% (AMD 15.1 billion/EUR 25.69 million*) vs the share of retail insurance at 43% (AMD 11.4 billion/EUR 19.40 million*), which is almost the same as a year earlier, ArmInfo reports.

According to the latest data from the Ministry of Economy, the number of beneficiaries of the state agroinsurance program in Armenia reached 4,300, while in 2020 for the entire year only 1,500 contracts were concluded between farmers and insurance companies, as reported by Ira PANOSYAN, Head of the department for the development of agricultural programs of the Armenian Ministry of Economy, ArmInfo writes.

The insurance sector of Armenia in the second quarter of 2021 returned from loss to profit, having received AMD 94 million, however, according to the 1H results, the companies ended the first half of the year with a loss.

In the first half of 2021, tax payments of the insurance sector of Armenia to the state treasury increased by 45.3% y-o-y and reached AMD 1.5 billion (EUR 2.55 million*), of which AMD 1.4 billion are direct taxes (including income tax, profit tax), which is 50% more y-o-y, ArmInfo reports.

From the beginning of 2020 to May 31, 2021, payments of the Military Insurance Fund totaled to AMD 38.5 billion (~EUR 60.46 million*), ArmInfo reports with reference to the Fund's official statement.

The number of terminated MTPL contracts in Armenia continues to grow rapidly - in January-May by 3.9 times compared to the same period in 2020, amounting to 19,500.

From January to March 2021, the insurance market of Armenia grew by 3.37% (in local currency), to AMD 16.35 billion (EUR 26.25 million), as the data on the activities of insurance companies provided by ArmInfo show.

In January-March 2021, GWP of the Armenian insurers in health insurance approached stagnation, reducing their growth rate from 8.2% a year ago to 1.1%, to a volume of AMD 7.4 billion (~EUR 13.48 million*), ArmInfo reports.

In the first quarter of 2021, sales of e-MTPL policies in Armenia increased and their share in the total number of MTPL contracts at the end of the quarter reached 19% (vs 11% a year ago), according to

According to 1Q2021 results, 5 out of 6 operating insurance companies were included in the list of 1000 large taxpayers in Armenia, same as a year ago.

In February 2021, 1,800 agreements were concluded between farmers and insurers within the framework of the agroinsurance program, while in the entire 2020 their number reached only 1,500, writes ArmInfo, according to Ira PANOSYAN, head of the department for the development of agricultural programs at the Ministry of Economy of Armenia.