Thursday, July 25 2013 19:48
Armenian insurers are most active in retail insurance
ArmInfo. In Q1 2013 the share of retail insurance in the aggregate portfolio of the 7 Armenian insurance companies made up 65%, or 11.4 bln AMD. The Ranking of Insurance Companies of Armenia by the Agency of Rating Marketing Information (ArmInfo) says that the share of corporate insurance in the insurers' portfolio made up 35%, or 4 bln AMD.
As compared with Q1 2012, the retail insurance market capacity shrank by 4.2%, and the capacity of the corporate one - by 7.6%. It should be noted that before the launch of motor third party liability insurance and compulsory health insurance of state workers, the ratio of the retail and corporate insurance was just the opposite.
The Ranking says that retail insurance prevailed in the portfolios of 4 insurers - Rosgosstrakh Armenia, SIL Insurance, RESO, and Armenia Insurance. The other three companies - Garant Insurance, Nairi Insurance, and INGO Armenia demonstrated almost equal shares of corporate and retail insurance.
The share of insurance payments to the corporate customers made up 20%, and to the retail customers - 80%. In the structure of premiums for re-insurance, the share of corporate insurance was 90%, and the share of retail insurance was 10%.
To note, in Q1 2013 the capacity of the Armenian insurance market shrank by 0.3% to 11.4 bln AMD ($27.2 mln). The companies' insurance payments rose by 83% to 4.9 bln AMD ($11.7 mln).