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 1H2018 Market Portfolio

Armenia 1H2018 Market Ranking

See all statistics

STATISTICS: ARMENIA, H1 2018 result: growth of paid claims exceeded growth rate of premiums and amounted to almost 35%

Editor: Marina MAGNAVAL
2018-08-16

Armenian market increased in local currency by 29.64% to AMD 22 billion (~EUR 39 million) in 1H2018, based on the data of ArmInfo portal. At that, growth rate of paid claims exceeded premiums and amounted to 34.91%.

ARMENIA, 1H: loss ratio in MTPL and health insurance increased to 67% and 42.5% respectivelly

Editor: Marina MAGNAVAL
2018-08-13

In Armenia as of July 1 this year loss ratio in MTPL and health insurance increased (from 55.6% to 67% and from 41.7% to 42.5% respectivelly), and Motor Hull saw an opposite trend- decline of loss ratio (70.6% vs 78.6% compared to the same period last year), wrote ArmInfo portal.

ARMENIA, 1H: corporate insurance lines' growth rate increased from 8.5% to 58.2%

Editor: Marina MAGNAVAL
2018-08-13

Based on the 1H2018 results, the growth rate of corporate insurance lines significantly increased from 8.5% to 58.2%, outperforming the individual insurance segment (2.7% to 6% increase), so that the share of this insurance in portfolio of local insurers reached 55.3%, wrote ArmInfo portal.

STATISTICS: ARMENIA, 1Q2018: INGO Armenia takes the market leadership after the first three months

Editor: Marina MAGNAVAL
2018-06-06

In Q1 2018 Armenian insurers generated about 14 billion AMD of premiums, while in European currency this volume amounted to almost EUR 24 million, according to the information provided by ArmInfo news agency.

ARMENIA: further development of health insurance requires support from World Health Organization

Editor: Marina MAGNAVAL
2018-05-29

The Head of the Armenian office of the World Health Organization (WHO), Egor ZAYTSEV announced that WHO will render technical assistance to Armenia in expansion of health insurance, as informed by ArmInfo.

Armenia: insurance market grew by 47.6% after Q1

Editor: Marina MAGNAVAL
2018-05-17

During the first 3 months Armenian market generated AMD 14.1 billion of premiums, which is 47.6% more than e year before, paid claims amounted to AMD 5.7 billion (+36.9%), according to ArmInfo agency.

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.