Location map
author: OCHA/ ReliefWeb

- Southwestern Asia.
- Neighbours: Turkey, Georgia, Azerbaijan, Iran.

- highland continental, hot summers, cold winters.

Natural hazards:
- occasionally severe earthquakes; - droughts.

Macro indicators
* 2018 estimates
Pop. density*:100.5people/km2
GDP*:11.0EUR billion

Currency: Dram

Code: AMD
Since: 1993

Insurance market portfolio
* 2018 estimates
Overall Property*:9%
Overall Motor*:54%




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Armenia FY2022 Market Portfolio

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Armenia FY2022 Ranking

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Latest news

ARMENIA: insurance sector's net profit up 5.5 times in 2022

The insurance market of Armenia ended 2022 at a historical maximum of premiums and paid claims. The increase in paid claims was imperceptible, while the increase in premiums was double-digit, which allowed the insurance sector to receive a net profit of AMD 4 billion (USD 10 million), with a 5.5-fold annual growth, ArmInfo reports.

ARMENIA: in 2022, MTPL loss ratio decreased to 66%

In 2022, MTPL loss ratio in Armenia decreased from 79% to 66%, falling below 74% in 2019, driven by a 16.1% annual increase in the number of contracts concluded and a 15.6% increase in GWP to USD 67.3 million , while reducing paid claims by 4.6% to USD 39.8 million, ArmInfo reports citing the Bureau of Motor Insurers of Armenia.

ARMENIA: NAIRI Insurance tops the list of major taxpayers among insurers

The volume of taxes in the insurance sector of Armenia in January-September 2022 amounted to AMD 1.3 billion (~EUR 3.30 million) which is 36.1% lower than a year ago. Of this amount, AMD 1.1 billion fell on direct taxes, with an annual decrease of 39.7%, according to the data of the State Revenue Committee of the Republic of Armenia, ArmInfo wrote.