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.

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