Friday, May 21 2010 15:42
Total insurance premiums in Armenia for Q1 2010 amounted to $4.7mn
ArmInfo. Total insurance premiums in the Armenian insurance market encompassing 10 companies for Q1 2010 amounted to 1.9bn drams or $4.7mn (up 56% versus Q1 2009). The share of corporate clients in total insurance premiums was 81% and the share of privates was 19%.
Ranking of Armenian Insurance Companies prepared by Agency of Rating Marketing Information (ArmInfo) says Rosgosstrakh-Armenia (670mn drams) and INGO Armenia (467mn drams) were in the lead for Q1 2010. ISG Insurance Company was in the bottom in terms of insurance premiums (16mn drams). Corporate insurance prevails over other lines in the portfolio of all 10 companies. Garant-Limens was in the lead in terms of corporate insurance portfolio (89.5% of total premiums of the company). Then goes INGO-Armenia with 88% and Cascade Insurance with 86%.
Indemnities grew 3% for Q1 2010 to 353mn drams. Top two companies in terms of indemnities are INGO Armenia and Cascade Insurance with 86mn drams and 82mn drams, respectively.