Tuesday, May 6 2014 15:38
In Q1 2014 Armenia's insurance companies paid in compensation just half of their premiums
ArmInfo. In Q1 2014 Armenia's insurance companies collected 10.1bln AMD in premiums (10% less than in Q1 2013) and paid 5bln AMD in compensation (twice as much as a year before), says ArmInfo's Ranking of Insurance Companies of Armenia.
Rosgosstrakh Armenia collected 33.3bln AMD, INGO Armenia 2.6bln AMD, Nairi Insurance 1.7bln AMD, Sil Insurance 1.2bln AMD, RESO 900mln AMD, Armenia Insurance 720mln AMD, Garant Insurance 1.9mln AMD.
In Q1 2014 Sil Insurance registered the biggest annual growth in premiums – 14.6%. The premiums of Armenia Insurance grew by 6.4%, Nairi Insurance by 5.2% and Rosgosstrakh Armenia by 1.8%. The premiums of Garant Insurance dropped from 604mln AMD to 1.8mln, RESO by 29% and INGO Armenia by 17.6%.
Rosgosstrakh Armenia paid 1.3bln AMD in compensation (10% less than a year before), Nairit Insurance 1.1bln AMD (twice as much), INGO Armenia 1.023bln AMD (5.5% less), RESO 647mln AMD (5% less), Sil Insurance 244.4mln AMD (20% more) Garant Insurance 130.2mln AMD (74% less).
As of Apr 1 2014 there were 7 insurance companies in Armenia.
In late Feb 2014 Garant Insurance gave its portfolio to Rosgosstrakh and was de facto closed. This has not yet been officially announced though.