According to the National Agricultural Insurers Agency (AINA), 9,528 contracts had been concluded by June 2026, generating GWP totaling AMD 798.9 million (USD 2.2 million), of which 56% (AMD 446.3 million) was the share of insurance companies, and 44% (AMD 352.5 million) was subsidized. The total area of insured land already amounts to 10,923 hectares.
It is noted that the agroinsurance program was launched in Armenia in pilot mode in September 2019, and policy sales began in 2020. The program operated until issues with inadequate oversight of claims exceeding the estimated damages were identified in 2024. That same year, Swiss Re, a reinsurer, withdrew from the Armenian agricultural insurance market, and insurance companies were unable to fully cover the insurance risks given the high losses caused by climate change.
Government efforts to revive agricultural insurance finally resulted in the program being reinstated in 2026. Unlike previous years, when only three insurance companies (INGO, LIGA Insurance, and SIL Insurance) participated in the program, all seven insurers are now involved.
However, according to AmRating analysts, AMD 200 million allocated for agricultural insurance in the 2026 state budget will likely prevent the Armenian government from fulfilling its obligations, especially since global climate change is irreversible, and insurance companies, as previous experience has shown, are unable to cover agricultural risks without reinsurance. The World Bank has recommended systemic changes aimed at launching a new, reformed program in 2027, the source added.
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