STATISTICS: ARMENIA: in January-June total net profit of insurers increased by 71% y-o-y

8 August 2019 — Marina MAGNAVAL
In the first half of 2019 Armenian insurers have recorded a consolidated net profit by 71% higher as compared with the similar period of 2018, amounting to AMD 757.8 million (~USD 1.6 million), ArmInfo reports.

According to the Financial Rating of Armenian Insurance Companies, prepared by ArmInfo, the leader in terms of net profit for Jan-June is NAIRI Insurance (AMD 399.5 million), followed by INGO Armenia (AMD 209.5 million) and Armenia Insurance (AMD 115.7 million). ROSGOSSTRAKH Armenia with a loss of AMD 109.6 million is the last of the six insurers in terms of net profit.

Considering only insurers with a positive balance, the total profit increased by 21% y-o-y (vs 31% a year ago) and exceeded USD 28 million. INGO Armenia (AMD 4.8 billion, +73%) is the market leader in terms of insurance profit volume and the company also demonstrated the highest growth of insurance profit on the market, according to the data, provided by ArmInfo.

*EUR 1 = AMD 540.18 (01.07.2019)
EUR 1 = USD 476.98 (01.07.2019)

Access and download 1H2019 Armenian insurance market statistics.
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