Thursday, February 14 2019 17:07

ArmInfo. Following the results of 2018, the insurance sector of Armenia paid taxes of 2.3 billion drams, which is 14.8% less than a year ago. Of this amount,  91.3% or 2.1 billion drams was paid on direct taxes (including income  tax and profit tax). According to the RA State Revenue Committee,  according to the results of 2018, all 6 insurance companies operating  in the market were included in the list of the top 1000 taxpayers in  Armenia.

Among insurance companies in tax payments, Rosgosstrakh Armenia  insurance company is in the lead, occupying 210th place (compared to  174th in 2017), paying 795.9 million drams to the state budget, of  which 724.4 million drams are income and profit tax. "INGO Armenia"  IC took the 288th place in this list (against the 176th in 2017),  adding 548.8 million drams to the state budget, of which 504.8  million drams is the profit tax and income tax. "Nairi Insurance"  took 513th position (against 347th in 2017), transferring 283.3  million drams to the state treasury, incl. 251.6 million drams -  income tax and profit tax. Then comes the RESO Insurance Company -  615 place (against 644 in 2017), paying 238.04 million drams, of  which 214.4 million drams - on income tax and profit tax. "Armenia  Insurance" - 718 place (against 713 in 2017), having paid 202.2  million drams, of which 190.1 million was on income tax and profit  tax. "Sil Insurance" - 755th place (against 492nd in 2017), which  paid 192.7 million drams, of which 170.2 million drams are income tax  and profit tax.

To note, in 2017, the insurance sector of Armenia increased taxes to  the state budget by 26.8% to 2.652 billion drams. The leadership was  held by Rosgosstrakh Armenia, after which INGO Armenia, Nairi  Insurance, Sil Insurance, RESO, and Armenia Insurance were located.

According to the data of the Financial Rating of Insurance Companies  of Armenia, prepared by the ArmInfo IC, the total accumulated profit  of the insurance sector of Armenia in 2018 was 2.6 billion drams,  having dropped by 16.9% a year. Balance profit (pre-tax) of the  insurance market for 2018 was 406.5 million drams (with a y-o-y  decline of 54%), which, after tax deduction, led to a net profit of  226.3 million drams with a y-o-y decline of 67.6%. Of the 6 existing  insurance companies with net profit, three completed 2018. IC "INGO  Armenia" took the first place in terms of net profit, the second -  Armenia Insurance IC, and the third - Nairi Insurance IC. The loss at  the end of 2018 was recorded in RESO IC, Rosgosstrakh Armenia and Sil  Insurance. (Settlement dram rate for December 31, 2018 amounted to  483.75 AMD / $ 1).