STATISTICS: ARMENIA, 3Q2021: the market grew by more than 12% - all segments saw positive dynamics

2 November 2021 — Marina MAGNAVAL
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.

It should be noted that, if compared to the same indicators at the end of the second quarter, the GWP growth rate has accelerated, while the growth rate of paid claims has slowed down.

The largest segments such as MTPL and health insurance grew by 5.47% and 13.17%, respectively. At the same time, all segments saw growth for the quarter, and the most impressive one was recorded in travel insurance (+185%).

Paid claims in some segments decreased, while in property insurance, on the contrary, they recorded a rapid growth - by more than 613%, to AMD 1.20 billion.

ROSGOSSTRAKH Armenia remains the leader of the six operating insurance companies (AMD 10.88 billion) and occupies almost 29% of the market. INGO Armenia holds the second place with a small margin (AMD 9.94 billion), and NAIRI Insurance ranks third.

Access and download the latest statistics of the Armenian insurance market.

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