In the reporting period, Armenia's insurance sector expanded tax payments to the state budget by 61.7% y-o-y, paying AMD 664.3 million (~EUR 1.54 million).
INGO (formerly INGO Armenia) advanced from 515th to 407th place over the year, paying AMD 210 million to the state budget. LIGA Insurance rose from 438th to 435th place, having contributed AMD 198.9 million.
This year, Nairi Insurance joined the list, taking 634th place, having contributed AMD 138.5 million to the state budget. SIL Insurance also improved its position in the list of 1,000 large taxpayers, moving up from 962nd to 765th place, paying AMD 116.8 million.
It is noted that according to the Financial Rating of Insurance Companies in Armenia as of March 31, 2026, prepared by ArmInfo, all seven insurance companies operating in the country ended the first quarter of this year with a profit, with SIL Insurance even managing to turn its profit from negative to positive. Thus, total pre-tax profit, accelerating y-o-y from 85.7% to 90.7%, amounted to AMD 1.8 billion (USD 4.7 million) in the first quarter. After taxes, net profit amounted to AMD 1.4 billion (USD 3.8 million), with growth slowing from 82.3% to 77.4%.
INGO led in net profit, followed by Nairi Insurance and Armenia Insurance. EFES ranked last in net profit for the first quarter, the source added.
*EUR 1 = AMD 432.19
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