Wednesday, August 13 2014 18:26
Four Armenian insurance companies register growth in compensation
ArmInfo. In Jan-June 2014 as compared with Jan-June 2013 Armenia's insurance companies registered a 64% growth in compensation.
According to ArmInfo's Ranking of Insurance Companies of Armenia, four companies registered a growth in compensation: Rosgosstrakh Armenia (twice), Nairi Insurance (by 71%), Sil Insurance (by 58.3%) and Armenia Insurance (by 6.2%). Two companies recorded a drop: Ingo Insurance (by 18%) and RESO (by 12.4%).
Rosgosstrakh Armenia paid 8.1bln AMD in compensation, Nairi Insurance 1.8bln AMD, INGO Armenia 1.6bln AMD, RESO 1.2bln AMD, Sil Insurance 822.3mln AMD, Armenia Insurance 443.5mln AMD.
Obligatory motor insurance accounted for 34.4% of all compensations or 4.8bln AMD (0.2% drop as compared with Jan-June 2013), insurance against property risks for 34.1% or 4.808bln AMD, health insurance for 18.6% or 2.6bln AMD (8.7% drop), automobile insurance for 4.9% or 694.1mln AMD (2.1% growth), haulage insurance for 3.6% or 513.5mln AMD and insurance against financial loss for 5.4% or 441.6mln AMD. Thus, the above six classes accounted for 99% of all compensations.
In Jan-June 2014 the companies recorded a total of 80,178 insurance events: 52,460 events concerned health care, 25,614 obligatory motor insurance, 1,472 automobile insurance.
Armenia's insurance companies provide 16 out of 19 existing insurance classes. Only INGO Armenia has license for all 16 classes (the only company insuring watercraft). Rosgosstrakh Armenia is licensed to provide 15 classes (the only company insuring against credit risks).