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ARMENIA: Moody's assigns Ba3 rating to Armenia's Export Insurance Agency, outlook stable
Moody's has assigned to the Export Insurance Agency of Armenia (EIAA) insurance financial strength ratings (Insurance Financial Strength Ratings - IFSRs) at Ba3 in foreign and national currencies, with a stable outlook, ArmInfo reports.
25 January 2022ARMENIA: the share of e-MTPL policies in 2021 reached almost a quarter of all MTPL contracts
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.
25 January 2022ARMENIA: the share of e-MTPL policies at the end of November almost reached a quarter of all MTPL contracts
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.
31 December 2021ARMENIA: the number of insurance agreements in agroinsurance has tripled over the year
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.
27 December 2021ARMENIA: in January-September, the number of vehicles with MTPL policy increased by 1.3% y-o-y
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.
8 November 2021STATISTICS: ARMENIA, 3Q2021: the market grew by more than 12% - all segments saw positive dynamics
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.
2 November 2021ARMENIA: taxes paid by insurers from January to September increased by more than 31% y-o-y
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%).
26 October 2021ARMENIA: number of vehicles with MTPL coverage stagnant; GWP increased by 7% in January-August
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.
29 September 2021ARMENIA: in 1H travel insurance grew by 70% y-o-y
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.
8 September 2021STATISTICS: ARMENIA, 1H2021: GWP increased by about 9.5%, while y-o-y growth of paid claims exceeded 20%
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.
24 August 2021ARMENIA: at the end of 1H, corporate insurance continues to dominate in the GWP portfolios of insurers (57%)
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.
23 August 2021ARMENIA: the number of beneficiaries of the state agroinsurance program exceeded the result of 2020
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.
16 August 2021ARMENIA: total loss of insurers in the first half of the year exceeded AMD 130 million
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.
16 August 2021ARMENIA: tax payments of insurers in 1H2021 increased by more than 45% y-o-y
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.
3 August 2021ARMENIA: from the beginning of 2020 to May 31, 2021, payments of the Military Insurance Fund amounted to AMD 38.5 billion
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.
30 June 2021ARMENIA: in January-May, the number of terminated MTPL contracts increased almost 4 times y-o-y
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.
16 June 2021STATISTICS: ARMENIA, 1Q2021: motor insurance decreased by about 3% y-o-y (local currency), while health insurance is practically stagnating
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.
20 May 2021ARMENIA: in Jan-March 2021, health insurance approached stagnation, while travel insurance decreased by more than 40% y-o-y
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.
4 May 2021ARMENIA: the share of e-MTPL in 1Q2021 increased to 19%
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
21 April 2021ARMENIA: the volume of tax payments of the insurance sector in 1Q2021 decreased by 7.7% y-o-y
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.
21 April 2021
