Armenia

Location:
Southwestern Asia, between Turkey (to the west) and Azerbaijan

Climate:
highland continental, hot summers, cold winters

Natural hazards:
occasionally severe earthquakes; droughts

Currency: Drams (AMD)
1 EUR = 512.20 Dram - AMD (December 31st, 2016)
1 EUR = 528.69 Dram - AMD (December 31st, 2015)
1 EUR = 577.47 Dram - AMD (December 31st, 2014)
1 EUR = 559.54 Dram - AMD (December 31st, 2013)
1 EUR = 532.24 Dram - AMD (December 31st, 2012)
1 EUR = 498.72 Dram - AMD (December 31st, 2011)
1 EUR = 481.16 Dram - AMD (December 31st, 2010)

Sources:
ArmInfo News Agency
Central Bank of Armenia

Insurance statistics
1H2017	Market Portfolio	xlsx
1H2017	Insurance Companies Rankings	xlsx
FY2016	Market Portfolio	xlsx
FY2016	Insurance Companies Rankings	xlsx
1H2016	Market Portfolio	xlsx
1H2016	Insurance Companies Rankings	xlsx
FY2015	Market Portfolio	xlsx
FY2015	Insurance Companies Rankings	xlsx
1H2015	Market Incicators	xlsx
FY2014	Insurance Companies Rankings	xlsx
FY2014	Market Portfolio	xlsx
1H2014	Insurance market overview	pdf
1H2014	Market Portfolio	xlsx
1H2014	Insurance Companies Rankings	xlsx
FY2013	Insurance market overview	pdf
FY2013	Market Portfolio	xlsx
FY2013	Insurance Companies Rankings	xlsx
1H2013	Insurance market overview	pdf
1H2013	Market Portfolio	xlsx
1H2013	Insurance Companies Rankings	xlsx
FY2012	Market Portfolio	xlsx
FY2012	Insurance Companies Rankings	xlsx
FY2012	Insurance market overview	pdf
1H2012	Insurance market overview	pdf
1H2012	Market Portfolio	xlsx
1H2012	Insurance Companies Rankings	xlsx
FY2011	Insurance market overview	pdf
FY2011	Market Portfolio	xlsx
FY2011	Insurance Companies Rankings	xlsx
1H2011	Insurance market overview	pdf
1H2011	Market portfolio and rankings	xlsx
2010	Insurance market overview	pdf
2010	Market portfolio and rankings	xls

Armenia FY2017 Market Portfolio

Armenia FY2017 Insurance Companies Ranking

See all statistics

ARMENIA: MTPL loss ratio could hit 70% by the end of 2018

Editor: Marina MAGNAVAL
2018-04-04

MTPL loss ratio may amount to 70% by the end of 2018, said ArmInfo with reference to the market forecast of the General Manager of the Armenian Bureau of Motor Insurers, Vaan AVETISYAN.

STATISTICS: ARMENIA, FY2017: claims expenses went up at a significantly higher pace than GWP

Editor: Marina MAGNAVAL
2018-02-21

Claims expenses growth exceeded by far the GWP increasing pace in 2017, in the Armenian market. Thus, while paid claims went up by 24.9% - against 4.9% growth in 2016 -, GWP saw a y-o-y growth rate of only 6.2%, slightly improved as compared with the previous year (5%).

ARMENIA: Retail insurance market accelerated the upward trend for 2017 from 0.2% to 4.5%, while the corporate market slowed from 12.1% to 8.5%

2018-02-13

The share of retail insurance in the portfolios of premiums of Armenian insurers amounted to 56.1% (19.6 billion AMD), corporate - 43.9% (15.3 billion) in 2017. At the same time, the capacity of the retail insurance market accelerated the upward trend to 4.5% from 0.2% in 2016, and, at the same time, corporate insurance growth slowed to 8.5% from 12.1% in 2016. Before the introduction of OSAGO in Armenia, as well as compulsory individual health insurance of state employees, the share of corporate insurance significantly prevailed over retail.

STATISTICS: Armenia, 3Q2017: GWP up by 3.78%; two Russian units account for about half of the insurance market

Editor: Olesea ADONEV
2017-12-07

In 3Q 2017, gros premiums written by the local insurers have grown slightly, by 3.78%, to AMD 24,562.59 million (EUR 43.5 million), according to ArmInfo Agency data.

ARMENIA: VTB Bank unveils new offer for preferred clients

2017-12-05

VTB Bank (Armenia) unveiled today a new offer, called 'Privilege,' which it said was designed for its preferred customers. The new product is based on Visa Platinum premium cards, the bank's press service reported.

ARMENIA: Compensation for OSAGO shows an impressive annual increase

2017-11-23

The volume of accrued insurance premiums for compulsory motor third party liability insurance amounted to 13.9 billion AMD in the first 9 months of 2017, an increase of 4.6% over the year, versus growth of 1.7% a year ago. At the same time, the volume of insurance claims paid was 8.2 bln AMD, with a sharp output of the annual dynamics from a 1.6% decline to a 34.4% increase. This is evidenced by monthly reports published by the Bureau of Motor Insurers of Armenia on OSAGO.

ARMENIAN insurance sector increases tax payments by 31.3% per annum for 9 months of 2017

2017-11-13

The Armenian insurance sector paid 2.1 billion AMD or 4.4 million AMD for January-September 2017, exceeding the figure of 31.3% a year ago. Of this amount, 1.9 billion AMD fell on direct taxes (including income tax and income tax), which is 26.7% higher than last year's figure.

Armenia: The loss ratio of MTPL insurance was 60% in the first nine months of 2017, with an annual growth of almost 10%

Editor: Olesea ADONEV
2017-11-09

In the first nine months of 2017, the gross written premiums on the MTPL insurance segment in Armenia increased by 4.6%, to AMD 13.9 billion. By comparison, in the 3Q2016/3Q2015 period, the growth was 1.7%.

ARMENIA: About USD 5 million to be invested in Armenia's agriculture insurance in three years

2017-11-06

About USD 5 million will have been invested in agricultural insurance in the next three years, agriculture minister Ignaty Arakelyan said today during a parliamentary discussion of the 2018 draft budget.

Online mandatory insurance of vehicles available in ARMENIA

2017-11-06

Armenian motorists are now able to conclude mandatory insurance of their vehicles with any insurance company online at a 5% discount on insurance premiums, the Bureau of Car Insurers of Armenia said today.

ARMENIA: The total net profit of Armenian insurance companies for 9 months of 2017 fell by 56.1% per annum to $ 3.6 million

2017-11-06

The total net profit of Armenian insurance companies for 9 months of 2017 fell by 56.1% per annum (against growth of 62.7% a year earlier), amounting to 1.7 billion AMD or USD 3.6 million.

Armenia is planning a mandatory agricultural insurance scheme

Editor: Daniela GHETU
2017-10-19

Armenia might have a mandatory agricultural insurance system in place, in about 3 to 5 years, an official of the specialized minister stated to the press, reports Arka News Agency.

ARMENIA: Ingo Armenia plans to win leading positions in the country

2017-10-04

Ingo-Armenia, a division of the Russian insurance company Ingostrakh, plans to take the leading positions in the Armenian market, Ingosstrakh CEO Mikhail Volkov told journalists in Yerevan on Friday.