In Q1 2015, the Armenian insurance companies' payouts in various classes of insurance totaled 3.237 bln AMD. As compared to Q1 2014, this index dropped by 40.9%. In the meantime, the premiums of the insurance companies fell by 8.8% to 9.416 bln AMD.
According to the Ranking of Insurance Companies of Armenia by the Agency of Rating Marketing Information (ArmInfo), all the companies experienced year-over-year decline in the payouts, with the steepest decline registered in Nairi Insurance - 62.4%. RESO ranked next - 57.3%, Rosgosstrakh Armenia - 46.4%, Armenia Insurance - 21.6%, SIL Insurance - 15.8%, and INGO Armenia - 7.1%.
The Ranking says that Rosgostrakh Armenia was in the lead in terms of insurance payouts - 1.136 bln AMD (leading position in terms of premiums as well). INGO Armenia was the second with 806.6 mln AMD, Nairi Insurance was the third with 421.7 mln AMD, SIL Insurance was the fourth with 407.7 mln AMD, RESO was the fifth with 273.3 mln AMD, and Armenia Insurance was the sixth with 191.7 mln AMD.
To note, the Armenian insurance companies provide services in 17 out of the 19 insurance classes. INGO Armenia is licensed to provide services in 16 classes (the only company insuring water transport). Rosgosstrakh Armenia provides services in 15 classes (the only company insuring loan risks). (On 31 March 2015, the USD/AMD exchange rate was 471.13 AMD/$).
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