Friday, March 23 2012 20:31
In 2011 aggregate portfolios of Armenian insurers grew more than threefold to 22.4 bln AMD
ArmInfo. In 2011 the summary volume of insurance premiums collected by 8 insurance companies of Armenia amounted to 22.382 bln AMD ($58 mln), with the growth versus 2010 being more than threefold. In the structure of insurance premiums the share of corporate insurance made up 34.8% and retail insurance - 65.2%.
According to the Ranking of Insurance Companies of Armenia by the Agency of Rating Marketing Information (ArmInfo), Rosgosstrakh Armenia is in the lead by the premiums for 2011 (6.5 bln AMD, 3.5-fold growth versus 2010). INGO Armenia ranks next with 4.2 bln AMD (2.5-fold growth versus 2010). Nairi Insurance holds the third position with 2.7 bln AMD (3.4-fold growth versus 2010). The fourth position belongs to RESO with 2.4 bln AMD, and the fifth position - to Cascade Insurance with 2.2 bln AMD. The 6th and the 7th positions belong to Garant Limens and RASCO (1.7 bln AMD and 1.2 bln AMD respectively). The smallest volume of premiums for 2011 was registered by Sil Insurance (928 mln AMD).
In the aggregate portfolios of the 8 insurance companies, the share of motor third party liability insurance premiums made up 66.4% or 14.8 bln AMD in 2011. Rosgosstrakh Armenia is in the lead with 4.8 bln AMD, and the last position belongs to Sil Insurance (36.2 mln AMD). Over Q4 2011 the motor third party liability insurance premiums increased by 10%.
In the structure of insurance portfolio of the 8 companies, the share of property risk insurance premiums made up 8.5% or 1.9 bln AMD. The premiums of this type of insurance rose by 6%. The biggest volume of property risk insurance premiums was registered by INGO Armenia (743.9 mln AMD). This insurer is also in the lead for the other segments.
Health insurance premiums made up 6% of all premiums or 1.5bln AMD – 25.1% more than in 2010. The leader is Garant Limens (traditionally the first in this field was INGO Armenia).
In comprehensive and collision insurance the insurance companies collected 1.5bln AMD (6.8% of all premiums) - 3.3% less than in 2010. The leader is INGO Armenia with 380mln AMD. In cargo insurance they collected 518.4mln AMD (2.3% of all premiums) - 17.4% more than in 2010. The leader is INGO Armenia with 128.5mln AMD.
In general liability insurance the companies collected 478.4mln AMD (2.1% of total premiums) - 10.8% less than a year before. The leader is Nairit Insurance with 163.5mln AMD.
Last year Armenia's insurance companies made no single contract for watercraft and financial guarantee insurance.