ArmInfo. The share of retail insurance in the portfolios of premiums of Armenian insurers for the first half of 2018 was 44.7% (9.8 billion drams), corporate insurance - 55.3% (12.2 billion drams). At the same time, year-over-year growth of retail insurance accelerated from 2.7% to 6%, while the acceleration rate of corporate insurance growth increased sharply from 8.5% to 58.2%. Before the introduction of CMTPL in Armenia, as well as obligatory individual health insurance of state employees, the share of corporate insurance significantly prevailed over retail one.
According to Ranking of Insurance Companies of Armenia, prepared by IC ArmInfo, as of July 1, 2018, corporate insurance prevails in premium portfolios of all insurers, except for Armenia Insurance and RESO, whose retail prevails - 55.5% and 51.2%, respectively. The largest disproportion between rҐtail and corporate insurance was recorded in INGO Armenia - 36.6% and 63.4%. "Rosgosstrakh Armenia" has a 45.5% share of retail insurance, and 54.5% of corporate insurance.
In the structure of insurance reimbursements, the share of payments to retail customers was 66% or 7.1 billion drams, corporate ones - 34% or 3.7 billion drams. At the same time, reimbursements to legal entities sharply accelerated growth - from 7% to 55%, while the rise in payments to individuals accelerated only from 23% to 26%.
In the structure of premiums transferred for reinsurance, the share of corporate insurance was 91.2% or 2.1 billion drams (sslackened y-o-y growth from 34% to 13%), retail - 8.8% or 199.3 million drams (with an acceleration of y-o-y growth from 13% to 55%).
Armenian insurers for the II quarter of 2018 concluded 296,670 contracts, exceeding the number of contracts signed in previous year by 17.4%. Thus, the number of insurance contracts effective as of July 1, 2018 was 794212 with a y-o-y growth of 19.8%. The leading position in terms of the number of concluded contracts is held by CMTPL - in the II quarter of 2018 191.4 thousand, the number of valid contracts by which reached 1.07 million by July 1. Medical insurance, due to the gradual introduction of the obligatory segment, took the second position in terms of the number of treaties effective by July 1 - 50.4 thousand, in the II quarter alone 2.2 thousand contracts were concluded. It is noteworthy that medical insurance demonstrated the highest growth in the number of acting contracts - 5.2-fold. Among voluntary types of insurance, the most popular is insurance against accidents-59.2 thousand contracts were concluded in the Q2, and the number of ones effective by July 1 reached 179.7 thousand. The leding position by the number of contracts in the segment of compulsory motor third party liability is held Rosgosstrakh Armenia (124.5 thousand July 1, of which 47.5 thousand were concluded in the Q2), which is also the first in terms of health insurance and travel insurance (29.8 thousand and 5.1 thousand respectively operating on July 1). In insurance against accidents, the first position was taken by INGO Armenia Insurance Company (84.7 thousand effective contracts as of July 1, of which 31.9 thousand were concluded in the Q2), by number of CASCO, RESO holds the leadership (2.4 thousand contracts effective as of July 1), by property insurance leadership is held by "INGO Armenia" (21.6 thousand effective as of July 1).
In terms of the number of contracts concluded in the Q2, INGO Armenia leads - 78.7 thousand, Rosgosstrakh Armenia ranks second with more than 74 thousand contracts, Nairi Insurance is the third- 58.9 thousand, RESO is the fourth - 29.4 thousand, Sil Insurance is the fifth - 29 thousand, and Armenia Insurance is the last on the list - 26.6 thousand. CMTPL contracts hold major share of contracts signed by all the six companies with a maximum by Sil Insurance (89%) and a minimum by INGO Armenia (43%).
In the total number of contracts concluded in Q2 the share of CMTPL accounted for 64.5%, and the share of medical insurance - 0.7%, compared to 72% and 0.5%, respectively, a year earlier. And in the structure of the contracts effective as of July 1, 2018, the share of CMTPL reached 59.2% and medical insurance - 6.3%, against 68% and 1.5% for the same period a year earlier.
To note, as of today 17 from the available 19 insurance classes are provided in Armenia, except for railway transport, judicial and extrajudicial expenses insurance. INGO Armenia (16) and Rosgosstrakh Armenia (15) are the leaders by insurance classes. Moreover, "Rosgosstrakh Armenia" is the only one on the insurance market licensed for insurance of credit risks, and "INGO Armenia" Insurance Company is the only one for insurance of water transport and liability from its use. (The calculated exchange rate of AMD as of 30.06.18 was 482.24 dr / $).