Friday, July 26 2013 18:23

Armenia's insurance companies register tenfold growth in their health insurance compensation


ArmInfo. In Jan-Mar 2013 as compared with Jan-Mar 2012 Armenia's insurance companies registered a tenfold growth in their health insurance compensation to 1.6bln AMD or 33% of all of their insurance payouts.

Rosgosstrakh Armenia paid the most (604.6mln AMD), Sil Insurance the least (3mln AMD).

According to ArmInfo's Ranking of the Insurance Companies of Armenia, during the same period the companies collected 2.052bln AMD in health insurance premiums (18% of all premiums), with INGO Armenia collecting the most (595.1mln AMD) and Garant Insurance the least (119.2mln AMD).

In Q1 2013 the companies concluded 9,125 health insurance contracts – 85% less than in Q1 2012. Armenia Insurance had the largest number of such contracts (3,575), INGO Armenia the smallest (215).

In Q1 2013 the capacity of Armenia's insurance market dropped by 0.3% to 11.4bln AMD or $27.2mln. The payouts grew by 83% to 4.9bln AMD or $11.7mln. In Q1 2013 the net profit made up 340.8mln AMD or $814,100 against 648.5mln AMD loss in Q1 2012.

There are seven insurance companies in Armenia providing 16 types of insurance.
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