ArmInfo. Armenia's insurance sector paid 1.1bln drams taxes for the 1st half of 2016 with a 21.2% year over year. Direct taxes (including profit and incomes taxes) accounted for 1bln drams of total, which is 20.3% more than a year ago. According to the State Revenue Committee, all the 6 insurance companies are among Top 1,000 largest taxpayers of Armenia for the 1st half of 2016.
Rosgosstrakh-Armenia Insurance Company tool the 201th place (versus last year's 179th place) and paid 283.3mln drams to the state budget, including 263mln drams direct taxes (incl. Profit and incomes taxes). Then goes INGO Armenia Insurance Company - 218th place (247th ) - 267.5mln drams, incl. 248.3mln drams direct taxes. Nairi Insurance Company was the 245th (660th) ) - 240mln drams taxes, incl. 231mln drams direct ones. Armenia Insurance Company is the 438th (471st) - 122mln drams, incl. 117mln drams direct taxes. Sil Insurance goes next at the 498th place (582nd) - with 106mln drams taxes, incl. 100mln drams direct taxes. RESO Insurance Company - 723rd (510th) paying 70mln drams taxes, incl. 66.4mln drams direct ones.
According to ArmInfo's Ranking of Armenian Insurance Companies, the accumulated profits of the insurance sector totaled 3.999 bln drams as of July 1 2016, increasing 2.5-fold year over year. As of July 1, 4 of the operating 6 companies saw accumulated profits, with Rosgosstrakh-Armenia ranking the first again - 1.97bln drams (6.5-fold growth year over year). Then go Armenia Insurance Company - 1.7bln drams (31.1% growth y-o-y), Nairi Insurance - 880.3mln drams (22.2% growth y-o-y), and INGO Armenia
Insurance Company - 763.3mln drams (2.2-fold growth y-o-y). Sil Insurance and RESO Insurance companies suffered a total of 1.3bln drams loss. The insurance sector saw 2.97bln drams balance profits for the 1st half of 2016 (up 75.2% y-o-y growth), and 2.6bln drams post-tax net profits (74% y-o-y growth). The top three companies by net profits are Rosgosstrakh-Armenia, INGO Armenia and Nairi Insurance. (Exchange rate for June 30 3016 - 476.68 AMD/1USD).