ArmInfo. Armenian insurers in Q1 2017 compensated 4.2 billion AMD or $ 8.6 million for various classes (figures are given from the reports of the portfolios of the IC according to ACB standards). On an annual basis, insurers' refunds increased by 13.8%, versus growth for 13.4% a year ago.
At the same time, the Armenian insurance premiums recorded an annual decline of 0.4% to AMD 9.5 billion or $ 19.7 million versus the growth of 1.7% a year ago. According to the Armenian Insurance Companies Ranking data,, prepared by IA ArmInfo, five companies provided annual growth of payments, with the largest part -RESO Insurance Company - by 73.8% and Nairi Insurance - by 53.4%, and the only annual decline registered Rosgosstrakh Armenia Insurance Company - by 16.8%.
By breakdown to insurance classes, the largest annual increase in payments recorded general liability insurance - 5.5 times and OSAGO - by 41.3% (versus the decline of 4.1% a year ago), after which growth rates followed insurance for travelers abroad - by 24.7%, liability from the use of land transport - by 19.4%, property from fires and natural disasters - by 3.9%. For other classes of insurance, the annual dynamics of compensation in the recession: financial damage - by 77.2%, property from other damages - by 58%, from accidents - by 24%, freight - by 16.2%, CASCO - by 7.1% %, Health - by 4.7%. Meanwhile, a year ago, in Q1 2016, these classes of insurance showed an annual growth: financial damage - growth of 12 times, property from other damages - 2.7 times, health - 17.1%, CASCO - 13.3%, from accidents - 10.6%, freight - by 5.9% . In general, no payments were made in the reporting period for insurance of credit risks (licensed only by Rosgosstrakh-Armenia), on aviation insurance and liability for its use (licensed by INGO Armenia, Rosgosstrakh-Armenia and Nairi Insurance), water transport and liability of its use (licensed only by INGO Armenia ) and provided guarantees (licensed by INGO Armenia and Rosgosstrakh-Armenia).
The largest volume of insurance payments is traditionally provided by Rosgosstrakh-Armenia IC - 1.2 billion AMD (ranking first in terms of premiums). The second place is occupied by "INGO Armenia" IC with a volume of reimbursements of 1.02 billion AMD. TOP-3 closes "Nairi Insurance" with a payout of 656.1 million AMD. Close to them is SC "Sil Insurance" with an indicator of 546.5 million AMD. The fifth position is occupied by "RESO" IC with an indicator of 502.3 million AMD. And the list of insurance companies is closed by Insurance Company Armenia Insurance with the volume of payments in 252.2 million AMD.
The largest share of payments in the structure of compensation traditionally fell on compulsory motor third party liability insurance (CMTPL) - 71.14% or 2.97 billion AMD, versus 57.27% a year ago. The share of medical insurance accounted for 17.7% of total insurance payments or 739.2 million AMD, against 21.13% a year ago. On the CASCO segment, the amount of insurance payments reached 293.3 million AMD or 7.02% in total insurance reimbursements, versus 8.61% a year ago. On the share of insurance of financial loss accounted for 2.17% or 90.8 million AMD, against 10.84% a year ago. For the other classes, payments range from 2.8 to 23.5 million AMD, with a minimum for general liability insurance (0.07% of total payments, compared with 0.01% a year earlier) and a property insurance maximum (0.56%, vs. 0 , 65% a year earlier).
For Q1 2017, Armenian insurance companies recorded more than 44,000 insurance cases, of which the greater part was for medical insurance - more than 26 thousand cases. Under the OSAGO, insurers recorded about 17 thousand insured events. The insurance of land transport (CASCO) by the number of cases ranks third - 538 cases. In the Armenian insurance market, there are two compulsory types of insurance: compulsory motor insurance and public health insurance.
