Monday, August 22 2011 18:30

Armenian insurance companies collected 12.8 bln drams premiums for 1Q 2011


Arminfo. Nine Armenian insurance companies collected 12.787 bln drams ($34.6 mln) of premiums for 1Q 2011. The share of corporative insurance in the structure of insurance collections was 23,2% or 2.9 bln drams, and of the retail one - 76,8% or 9.8 bln drams.

According to the Ranking of insurance companies prepared by Arminfo, the fees of Armenian insurance companies grew by 58,4% for the 1Q 2011. This indicator has grown by 6,7 times at the expense of the OSAGO fees versus 1Q 2010. In the !q 2011 the leader on collection of premiums was the insurance company "Rosgosstrakh-Armenia" - 4.1 bln drams. Then comes "INGO Armenia" - 2.5 bln drams. The third is the insurance company "RESO" - 1.7 bln drams. The insurance company "Nairi Insurance" is the forth - 1.4 bln drams.

Thus, in the 1Q 2011 four insurance companies gathered 76% out of the aggregate premiums, and the rest 24% were gathered as follows: insurance company "Cascade Insurance" gathered premiums 991.6 mln drams (the 5th place), "Garant Limens" - 888.7 mln drams (the 6th place), "RASKO" - 660 mln drams and "Sil Insurance" the least of all - 509.6 mln drams.

The share of OSAGO in the total portfolio of the insurance companies was 86% or 11.022 bln drams. The insurance company "Rosgosstrakh-Armenia" has become the leader. Then comes medical insurance. In this sector Armenian insurance companies gathered 637.5 bln drams premiums (5% out of total premiums) for the 1Q 2011, and "INGO Armenia" became the leader. The volume of premiums on insurance of property amounted to 396.6 mln drams (3,1% out of total premiums) in the 1Q 2011. "INGO Armenia" os also the leader in this sector. As for the KASKO segment (insurance of land transport), here the volume of premiums was 160.8 mln for the 1Q 1011.

The share of OSAGO in the structure of compensations reached 57% by 1 April 2011 - 722.6 mln drams. The total volume of compensations amounted to 1.272 bln drams, having grown threefold versus 1Q 2010, but the volume of compensations dropped by 26,4% for the 1Q. Here are the leading three on the volume of compensation payments: "Rosgosstrakh-Armenia" (369.4 mln drams), "INGO Armenia" (327.6 mln drams) and "RESO" (134.1 mln drams).

According to the results of the 1Q 2011, Armenian insurance companies fixed 9686 insurance cases, more than half of which - 5435 cases were medical insurance. As for OSAGO, 3714 insurance cases were fixed (38,3% out of the total number of cases). As for KASKO, insurance of land transport, there were 351 cases. The tourist insurance occupies the forth place - 113 cases, and accident insurance is the sixth - 30 cases. Only one case was fixed on insurance of financial harm.

The retail insurance prevails in the portfolio of the insurance companies. Here the leader is the insurance company "RESO" with a share 98,7%. The insurance company "Garant-Limens" has become the leader in the segment of corporative insurance with a share 43,4%.
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