Thursday, December 9 2010 19:10
Over Jan-Sep 2010 insurers of Armenia concluded 78077 contracts
ArmInfo. Insurance for those going abroad remains the most demanded insurance type in Armenia, and this is proved by 27766 contracts concluded in this segment over Jan-Sep 2010 (35,6% of total).
According to the Ranking of Insurance Companies of Armenia by the Agency of Rating Marketing Information (ArmInfo), property risks insurance ranks next - 20,6% in total number of contracts (16044 contracts), casualty insurance holds the third position - 13,7% (10670 contracts), land vehicles insurance (CASCO) holds the fourth place - 10,8% (8449 contracts), and third-party liability insurance holds the fifth place - 8,4% (6578 contracts).
The total number of contracts concluded by 9 insurance companies over Jan-Sep 2010 (exclusively of RESO, the only insurance company that failed to provide ArmInfo with insurance portfolio breakdown reports) totaled 78077 (37258 in Q3 alone), their insurance amount being over 1.008 trln AMD.
Over the period under review, the volume of receipts of the 9 insurance companies amounted to 6.2 bln AMD (RESO inclusive, this index made up 6.6 bln AMD) for 14 non-life insurance classes. By the level of premiums, property risks insurance is in the lead, the receipts being 1.4 bln AMD. Motor vehicle insurance ranks next with 1.3 bln AMD, air carrier insurance holds the third place - 1.2 bln AMD, medical insurance holds the fourth place - 812.5 mln AMD, and cargo transportation insurance holds the fifth place - 365.3 mln AMD. The minimum volume of premiums was collected from the guarantees provided (6.2 mln AMD), which was forecasted as a result of normative stiffening by the regulator.
Over Jan-Sep 2010 9 insurers paid 1.2 bln AMD indemnities (RESO inclusive, this index made up 1.3 bln AMD) for 13723 events insured. The maximum volume of indemnities was paid in the segments of CASCO (409.8 mln AMD for 994 events insured) and medical insurance (397.4 mln AMD for 13723 events insured).
To note, over the period under review 2 insurance companies left the market (Alpha Insurance, whose main insurance portfolio was acquired by Rosgosstrakh-Armenia, and London-Yerevan, which was merged with Rosgosstrakh-Armenia). The process of merger of Griar Insurance with INGO Armenia was over in October 2010.
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