Friday, October 7 2011 13:11

Over Q2 2011 seven Armenian insurers concluded 76,765 contracts


ArmInfo. Over Q2 2011, seven Armenian insurers concluded 76,765 contracts. According to the Ranking of Insurance Companies of Armenia by the Agency of Rating Marketing Information (ArmInfo), the most demanded type of insurance (MTPL exclusive) is the travel insurance - 8,519 contracts (11.1%), this index being by 54.4% more than over Q1. The biggest number of contracts on travel insurance was concluded by INGO Armenia - 4,171 contracts.

Accident insurance ranks next - 7%, or 5,235 contracts, which is twice as much as over Q1 2011. By this type of insurance, "Rosgosstrakh-Armenia" occupied the first position - 2,094 contracts.

Fire and disaster insurance occupied the third place with 3,236 contracts, or 4.2% of the total number of contracts (22.8% quarterly growth). INGO Armenia. The biggest number of contracts was was concluded by INGO Armenia - 1,184 contracts.

CASCO was the fourth with 2,338 contracts, or 3% (35.4% quarterly growth). INGO Armenia signed the biggest the number of contracts on this type of insurance - 537 contracts.

The top five is accomplished by property and casualty insurance - 1,671 contracts, or 2.2% (47.3% quarterly growth). RASCO was in the lead by the number of contracts (1,070 contracts).

By the motor third party liability insurance (MTPL), Armenian insurers signed 54,258 contracts over Q2 2011. The share of MTPL contracts in the total volume of contracts was 70.7%. Nairi Insurance was in the lead by the number of contracts. The company is also the leader by the total number of contracts signed over Q2 2011 (20,714 contracts). INGO Armenia ranks next with 18,087 contracts, and Rosgosstrakh- Armenia is the third with 17,602 contracts.

To remind, in 2010 the following insurance companied left the insurance market of Armenia: London- Yerevan (its portfolio was mostly transferred to Rosgosstrakh-Armenia), Alpha-Insurance (its portfolio was transferred to Rosgosstrakh-Armenia), and Griar Insurance (its portfolio was mostly transferred to INGO Armenia). In April 2011, ISG left the market, having transferred its portfolio to RASCO. The Ranking does not take into account the data of Garant Limens, which are not available due to the audit being held by the Central Bank of Armenia.
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