Tuesday, February 12 2019 19:00

ArmInfo.  The share of retail  insurance in the portfolios of premiums of Armenian insurers by the  end of 2018 was 51.8% (21.3 billion drams), corporate - 48.2% (19.7  billion drams).

According to the data of the Financial Rating of insurance companies  of Armenia as of January 1, 2019, prepared by ArmInfo IC, the retail  insurance market capacity for the year accelerated growth to 8.4%  from 4.5% in 2017. , and corporate is even more impressive - up to  28.8% from 8.5% in 2017. Prior to the introduction of OSAGO in  Armenia, as well as mandatory individual health insurance of state  employees, the share of corporate insurance significantly prevailed  over retail.

Moreover, retail insurance prevails in premium portfolios of almost  all insurers, with the exception of INGO Armenia, for which corporate  insurance still prevails - 59.2%. The largest disproportion between  retail and corporate insurance was recorded at Armenia Insurance  (65.6% and 34.4%). The remaining four companies have less impressive  diversification of retail and corporate portfolios: IC Nairi  Insurance - 55% and 45%, IC RESO - 54.8% and 45.2%, IC Rosgosstrakh  Armenia - 54.7% and 45.3%, Insurance Company Sil Insurance - 54.1%  and 45.9%.In the structure of insurance claims, the share of payments  to retail customers accounted for 68.1% or 15.5 billion drams,  corporate - 31.9% or 7.3 billion drams. At the same time,  reimbursements to legal entities have accelerated annual growth from  15% to 44%, while slowing the uptrend in physical payments from 29%  to 22%.

In the structure of premiums listed for reinsurance, the share of  corporate insurance was 90.8% or 4.8 billion drams (with an annual  output of 2% decline by 9% growth), retail - 9.2% or 485.9 million.  drams (with the acceleration of annual growth from 15% to  55%).Armenian insurers for the fourth quarter of 2018 concluded  393,923 contracts, exceeding the number of contracts a year ago by  14.8%. Thus, the number of insurance contracts valid on January 1,  2019 was 826708 with an annual growth of 19.2%.Among insurance  classes, the leading position on the number of concluded contracts is  held by CTPO - in the fourth quarter about 266.4 thousand, the number  of valid contracts under which as of January 1 reached 485.7  thousand.Of the voluntary types, accident insurance is the most  demanded, according to which 72.4 thousand contracts were concluded  in the fourth quarter, and the number valid on January 1 reached  233.4 thousand.By the number of contracts in the segment of OSAGO,  Rosgosstrakh Armenia insurance company leads (127.2 thousand  operating on January 1, of which 64.7 thousand were concluded in the  fourth quarter), and the same company dominates health insurance (1.9  thousand operating on 1 January)."INGO Armenia" leads in accident  insurance (123.9 thousand operating on January 1), holding the  championship and property insurance (23.5 thousand operating on  January 1).

On hull insurance took "Sil Insurance" (2.6 thousand operating on  January 1).INGO Armenia and Rosgosstrakh Armenia are leading in terms  of insurance for traveling abroad with almost the same number of  contracts in force on January 1, respectively 5.6 thousand and 5.5  thousand, but for those concluded in the fourth quarter INGO Armenia  is leading - 5.9 thousand against4.7 thousand from "Rosgosstrakh  Armenia".By the number of contracts concluded in the fourth quarter,  INGO Armenia IC continues to lead - 119.3 thousand, Rosgosstrakh  Armenia has consolidated the second position - 98.6 thousand, Nairi  Insurance remained in the third position - 74.3 thousand, and the  fourth Sil Insurance has advanced 37.2 thousand, displacing 33.5  thousand by the fifth RESO, and Armenia Insurance closes the list  with 30.9 thousand. For all six companies, the insurance dominates  the concluded insurance contracts with a maximum of Sil Insurance (86  %) and a minimum of INGO Armenia (53%). 

Recall that in the insurance market of Armenia there are 6 companies  that, out of the existing 19 classes, work on 17 classes of  insurance, with the exception of railway transport insurance and  legal and extrajudicial expenses insurance.By the largest number of  classes, INGO Armenia ICs are licensed - 16 (the only one working by  the water transport insurance class) and Rosgosstrakh Armenia IC -  15, followed by Nairi Insurance IC and Armenia Insurance IC - 12  classes each, SK RESO and Insurance Company "Sil Insurance" - 11  classes each. (Estimated dram to dollar rate12/31/18 is 483.75 dr./$  1).