ArmInfo. In 2016, the insurance sector of Armenia paid 2.091 bln AMD in taxes, 17.8% more than in 2015. 1.951 bln AMD of this amount was paid in profit and income taxes. The Armenian State Revenue Committee reports that all the 6 insurance companies on the Armenian market are on the list of the top 1000 taxpayers of Armenia.
Rosgosstrakh Armenia was in the lead among the insurance companies. It held the 216th position (versus 203rd position in 2015) by paying 588.2 mln AMD in taxes, including 543.9 mln AMD in profit and income taxes. INGO Armenia was the 243rd (versus 262nd position in 2015) by paying 512 mln AMD, including 475.8 mln AMD in profit and income taxes. Nairi Insurance was the 313th (versus 619th position a year before) by paying 390.5 mln AMD, including 367.7 mln AMD in profit and income taxes. SIL Insurance was the 501st (versus 583rd position a year before) by paying 224.2 mln AMD, including 212.4 mln AMD in profit and income taxes. Armenia Insurance was the 530th (versus 601st position a year before) - 210.4 mln AMD, including 201.7 mln in profit and income taxes. RESO was the 655th (versus 505th position a year before) - 165.7 mln AMD, including 149.4 mln AMD in profit and income taxes.
To note, in 2015 the tax payments of the insurance sector of Armenia declined by 10.3%. Rosgosstrakh Armenia was in the lead, and the following insurance companies ranked next: INGO Armenia, RESO, SIL Insurance, Armenia Insurance and Nairi Insurance.
According to ArmInfo's Ranking of Insurance Companies of Armenia, in 2016 the aggregate accumulated profit of the insurance sector of Armenia amounted to 5.2 bln AMD (2.1-fold growth versus 2015). 4 out of the 6 companies demonstrated profit. Rosgosstrakh Armenia was in the lead in terms of accumulated profit - 2.4 bln AMD. The following companies ranked next: Armenia Insurance - 1.8 bln AMD, Nairi Insurance - 1.185 bln AMD, INGO Armenia - 1.179 bln AMD. RESO and SIL Insurance suffered losses - 849 mln AMD and 514 mln AMD, respectively. (On 31 Dec 2016, the AMD/USD exchange rate was 483.94 AMD/$1).