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

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.

The biggest contribution to GWP during Q1 was made by the health class (almost 45%) and motor insurance (about 42%), with MTPL having more than 38% market share. The smallest shares and contribution were demonstrated in such classes as travel insurance (0.68%), GTPL, insurance of other damages to property and cargo insurance.

In terms of claims the market in Q1 paid AMD 5.7 billion (~EUR 9.66 million). The same classes, which contributed more to GWP, also recorded the highest claims figures: motor insurance claims amounted to AMD 3.61 billion and AMD 1.6 billion was paid in health insurance.

The first place in the volume of collected premiums was taken by INGO Armenia Insurance Company with a portfolio of AMD 3.82 billion, displacing ROSGOSSTRAKH Armenia to the second position with AMD 3.78 billion. TOP-3, as before, is closed by NAIRI Insurance with AMD 2.6 billion. The same first 3 positions are taken by the above-named companies in the same order in terms of claims paid during Q1. The Armenian insurance market is represented by 6 companies, all of them are active insurers by premiums collected and claims paid.

Access xprimm.com and download Armenian 1Q2018 market figures.





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