Monday, May 15 2017 12:28

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.