Wednesday, December 24 2014 20:54
Insurance companies of Armenia report 6.1% increase in policies for Q3 2014
ArmInfo. Armenian insurance companies provided 244,201 policies for Q3 2014, showing a 6.1% increase versus the same period of 2013. The number of valid insurance policies grew 1.6% to 628,202 as of 1 October 2014.
According to the Ranking of Armenia's Insurance Companies prepared by ArmInfo News Agency, the most popular voluntary insurance line is accident insurance (31,163 policies, a 29.3% decline for Q3 2014). As of October 1 2014, the number of accident insurance policies totaled 121,488. RESO insurance has retained its leadership position by the number of accident policies (22,492).
Tourist insurance is the second popular insurance line (25,724, a 94.5% growth for Q3). As of Oct 1 2014, tourist insurance policies numbered 12,388. INGO Armenia Insurance Company was the leader in the given segment (10,424 policies).
The third most demanded insurance line is the third party motor liability insurance (5,309 policies, with a 7.1% growth). At the end of the period under review, policies provided in the given segment numbered 14,871. Rosgosstrakh Armenia Insurance Company was the leader with 4,700 policies. Insurance against property risks (fire and natural calamities) is on the fifth place in the rating of popular insurance lines in Armenia (4,821 policies with a 9.7% decline for Q3). The number of policies provided in the given segment as of 1 October 2014 totaled 18,306. INGO Armenia was the leader with 1,734 policies. Rosgosstrakh Armenia and RESO provided 1,488 policies and 1,229 policies, respectively.
CASCO insurance policies number 3,161 for Q3, which is 2.1% more than for the previous quarter. As of Oct 1 2014, the companies provided 11,160 policies in the given segment. SIL Insurance Company was the leader (1,115 policies).
Freight insurance policies totaled 2,015 with a 3,8% growth for Q3. The number of the policies provided as of Oct 1 2014 totaled 1,117. Rosgosstrakh Armenia was the leader (709 policies). The insurance companies provided 1,195 policies in the segment of the property insurance against other damages with a 8.1% growth for Q3 (4,414 policies as of Oct 1). Nairi Insurance was the leader (777 policies).
General liability insurance policies numbered 206, with a 52.1% decline for Q3. The companies provided 1,601 policies in the given segment as of Oct 1. INGO Armenia was the leader (118 policies). Ten policies were provided under insurance against financial damage. As of Oct 1, the number of the valid insurance policies in the given segment totaled 53. Rosgostrakh Armenia provided 7 policies, INGO Armenia - 2 policies and RESO - one policy.
Insurance against aviation risks and third party air transport liability insurance segments were the least demanded in Armenia. By 4 policies were provided in both the segments. Rosgostrakh Armenia and RESO provided by 3 policies in the first segment and by 1 policy in the second. As of Oct 1 2014, the number of the given types of insurance policies totaled 11 (on each insurance line).
In the segment of the mandatory motor third-party liability insurance (MTPL), a total of 164,566 policies were provided in Q3m with a 5.8% growth versus the previous quarter. The number of valid MTPL policies totaled 430,089 as of Oct 1 2014. Rosgostrakh Armenia was the leader (55,613 policies).
Medical insurance policies totaled 6,033 for Q3 versus 439 in Q2. As of Oct 1, the companies provided a total of 12,733 medical insurance policies. Rosgosstrakh Armenia was the leader (5,444 policies).
Armenian insurance companies provide 16 out of 19 insurance lines registered in Armenia. INGO Armenia is the only company to provide all the 16 insurance lines. Rosgosstrakh Armenia provides 15 insurance lines, Sil Insurance, Armenia Insurance and RESO provide by 11 insurance lines, while Nairi Insurance provides only 10.
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