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 = 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

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1H2014Insurance market overview pdf
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FY2011Insurance market overview pdf
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2010Insurance market overviewpdf
2010Market portfolio and rankingsxls

FY2016 Market Portfolio

FY2016 Insurance Companies Rankings

ARMENIA: VTB Bank downs interest rates on car loans

VTB Bank (Armenia) has lowered interest rates on car loans, the press office of the bank reported on Monday. Now the bank clients will borrow the money necessary for buying cars at interest rates beginning from 14%. The bank also offers lending for already imported cars, which are brought to Armenia within 30 days before applying for car loans.

ARMENIA: Compulsory Vehicle Insurance "direct payout"tool launched on April 1 2017

From April 2017 new conditions of CVI  insurance indemnifications are  enforced  in Armenia. As Vahan Avetisyan the director of  Armenian Motor Insurance Bureau has stated earlier, in 2016 all the necessary technical and procedural backgrounds were created so that from April 2017 CVI insurance certificates holders  could receive indemnifications from their insurance company.

ARMENIA-based insurers earned AMD 4.058 billion in net profit in 2016

Armenia-based six insurance companies earned a total of 4.058 billion drams in net profit in 2016, up from 2.672.8 billion drams they had earned in 2015 (51.8% increase), according to ARKA news agency's bulletin "Insurance Companies of Armenia" for the fourth quarter of 2016. All six companies closed the past year with a profit, whereas in 2015 two companies reported losses.