STATISTICS:

STATISTICS: ARMENIA, 1H2015: Indemnities paid by local insurers down by 55%

In the first half of 2015, GWP by the Armenian insurance companies increased by almost 2%, to AMD 16,004 million. At the same time there was recorded a significant decrease of the paid indemnities, by 55%.

According to the ArmInfo News Agency, in the reporting period the net profit of the 6 operating insurance companies in Armenia totaled AMD 14.9 billion, up by 4.5%. In the second quarter of the current year this indicator decreased by 1.2%.

According to the ArmInfo's ranking, in terms of net profit the leader has become ROSGOSSTRAKH Armenia - AMD 4.75 billion (55.% y-o-y growth), following INGO Armenia - AMD 2.75 billion (9.2% y-o-y decrease), ARMENIA Insurance Company - AMD 2.32 billion (14% y-o-y decrease), NAIRI Insurance - AMD 2.06 billion (up by 6.4% y-o-y), SIL Insurance - AMD 1.73 billion (up by 26.6% y-o-y) and RESO - AMD 1.30 billion (down by 40.4% y-o-y).

In the first five months of current year, six insurance companies, members of Armenian Motor Insurers' Bureau, paid AMD 3.4 billion under the 16,423 cases of car insurance damages, decreased by 16% compared to the similar period of 2014. In the analyzing period, the average compensation claim reached to AMD 209,000. At the end of May, 2015 there were 434,000 insured vehicles in Armenia, by 1,600 more from the previous month, according to the press-release of Motor Insurers' Bureau.

Access www.xprimm.com and download the 1H2015 Armenian insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ARMENIA: export insurance in 2018 increased by 73%

In 2018 export insurance recorded a significant growth. Total insured amount was AMD 7.9 billion (+73% y-o-y), at that total insurance premiums exceeded the planned level for 2018-2020 by 31%, as the press office of the Export Insurance Agency of Armenia announced.

2019-01-18

ARMENIA: launch date of agro insurance project is not yet determined

The Agricultural Ministry of Armenia previously announced that around the end of 2018 and beginning of 2019, insurers would start to sell agro insurance policies. However, as of now, launch of the agro insurance project is not yet determined and no memorandums are signed with insurers, as member of the Agricultural Alliance and Council to the CEO of NAIRI company, Artak MARTIROSYAN, announced.

2018-10-24

ON THE MOVE

ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.

18.01.2019

TOP EVENT

Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.

10.01.2019

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all