Wednesday, December 7 2011 21:26
MTPL (OSAGO) allows Armenian insurance companies to raise total portfolio almost 4-fold
ArmInfo. Insurance companies of Armenia collected premiums in the amount of 18.677 bln drams ($50.2 mln) with a 4fold growth versus 9 months of 2010. In the structure of insurance charges, the share of corporate insurance totaled 31.6%, with retail insurance making up 68.4%.
Leader in terms of the premiums was Rosgosstrakh Armenia - 5.7 bln drams (up 3.6fold versus 9 months of 2010). INGO Armenia was the second with 4.1 bln drams premiums (up 2.7fold). Nairi Insurance was the third with 2.2 bln drams premiums (up almost 4fold). RESO Insurance was the fourth with 2.05 bln drams premiums, and Cascade Insurance was the 5th with 1.5 bln drams premiums. Then go Garant Limens and RASCO with 1,4 bln drams and 904 mln drams, respectively. Sil Insurance collected the least of all. The share of Motor Third Party Liability Insurance (MTPL) is total portfolio was 72.3% or 13.5 bln drams. Rosgosstrakh Armenia was the leader by MTPL premiums - 573.4 mln drams. In the structure of the insurance portfolio of 8 insurance companies, property insurance premiums (against fires and natural calamities, and other damage) made up 6.5% or 1.2 bln drams. INGO Armenia was the leader by property insurance premiums - 496.4mln drams. This company has leading positions also in the other 9 segments.
The share of medical insurance in total premiums was 6.35% or 1.228 bln drams (up 46% versus 9 months of 2010). INGO Armenia is the leader by medial insurance premiums - 336.3 mln drams. CASCO premiums totaled 1.047 bln drams or 5.6% of total premiums (up 1%). INGO Armenia is the leader by CASCO premiums - 260 mln drams. Freight insurance premiums amounted to 398.7 mln drams or 2.1% of total premiums (up 10.1%). INGO Armenia is the leader also in this segment - 117.2 mln drams. In 9 months of 2011 the 8 companies collected 332.5 mln drams general liability insurance premiums (1.08% of total). This segment fell 17.2% versus the same period of 2010. Nairi Insurance is the leader in the given segment with 117.2 bln drams.
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