Thursday, December 8 2011 14:00
OSAGЋ increases insurance payments of Armenian insurers almost fivefold up to $14 mln
Arminfo. The insurance payments of Armenian insurers grew almost fivefold for a year and reached 5.2 bln drams ($14 mln) as of 1 October 2011.
According to the Ranking of Armenian insurance companies prepared by ArmInfo, the insurance company "Rosgosstrakh-Armenia" is the leader on the insurance payments for a year - 1.5 bln drams (the company is also the leader by the volume of premiums); and "Sil Insurance" is the last by the volume of insurance payments and premiums - 214.7 mln drams.
In the structure of compensations the share of Motor Third Party Liability Insurance (OSAGO) payments was 66,1% or 3.4 bln drams. The OSAGO payments grew by 66,6% in the 3Q. The medical insurance payments by the end of September 2011 amounted to 707.8 mln drams (13,6% out of the total volume of payments), which is by 78,1% more versus the same period of 2010. The CASCO payments were more than 600 mln drams, this is by 50,1% more versus the same period of 2010. Armenian insurance companies paid about 155 mln drams for property insurance from fires and natural disasters, the compensation payments on this kind of insurance grew more than threefold for a year. The insurance payments of Armenian insurers on other types of insurance exceeded 100 mln drams.
According to the results of the 3Q 2011, Armenian insurers totally fixed 46170 insurance cases, 26531 of which medical insurance. They fixed 17522 OSAGO cases. Then comes CASCO insurance - 1425 cases.