Out of 7 insurance companies operating in Armenia, 4 were included in the list of the largest taxpayers - LIGA Insurance, Nairi Insurance, INGO and Armenia Insurance. LIGA Insurance topped the list among insurers, as a year earlier, having dropped from 374th to 420th position (the company's taxes amounted to AMD 576.7 million). Next comes Nairi Insurance, which moved up from 508th to 481st place (AMD 508.5 million). INGO dropped from 533rd to 675th position (AMD 373.1 million). Armenia Insurance ranked 936th (AMD 261.4 million).
In the total tax payments of 1000 largest taxpayers, the share of the insurance sector (4 insurance companies) hasn’t changed y-o-y, amounting to 0.1%.
According to the Financial Rating of Insurance Companies of Armenia as of September 30, 2024, prepared by ArmInfo, total accumulated profit of the insurance sector of Armenia for 9 months amounted to AMD 7.5 billion (USD 19.3 million), which indicates an y-o-y decrease of 12%. The balance (pre-tax) profit of the insurance sector for 9M2024 amounted to AMD 954.8 million (USD 2.5 million, -75.5%). The net profit of the insurance sector amounted to AMD 717.9 million (USD 1.9 million, -77.5%). At the same time, 3 companies ended 9M2024 with a loss. In terms of net profit, Armenia Insurance took the lead, Nairi Insurance ranked second, REGO Insurance - third, and Sil Insurance - fourth.
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