ArmInfo. Based on the results of 2016, the share of retail insurance in premium portfolios of Armenian insurers formed 57% (AMD 18,8 bln), and the corporate insurance share made 43% (AMD14,1 bln).
At that, the capacity of retail insurance in Armenia slowed down from 0,3% to 0,2%, within the growth of corporate one from 10,9% up to 12,1%. Before the OSAGO, as well as the compulsory medical insurance were implemented in Armenia, the corporate insurance deals essentially prevailed in comparison to retail insurance transactions. The retail insurance prevails in premium portfolios of all the insurers, except INGO Armenia, which has the corporate insurance prevailing. At that, the largest disproportion between retail and corporate insurance is fixed at RESO IC forming 75,2% and 24,8%, and at Armenia Insurance IC - 71,9% and 28,1%. The SIL Insurance IC has 62,9% retail insurance share, Nairi Insurance stands at 58,9%, Rosgosstrakh Armenia - at 56,8% and INGO Armenia - at 44,4%.
In the structure of insurance indemnities the retails clients payoffs share formed 69,1%, or AMD 9,8 bln in monetary expression, corporate clients payoffs made - 30,9% or AMD 4.4 bln. At that the indemnities for legal entities changed the dynamics from 62% dropdown to 17% growth, within the improvement of individuals indemnities from 20% dropdown to 0,3% growth.
In the structure of premiums allocated for reinsurance, the corporate insurance deal formed 94,3% or AMD 4,5 bln ( within the precipitation of annual growth from 11% to 23%), the retail one - from 5,7% or AMD 270,8 mln ( dynamics improvement from 18% dropdown to 3% growth). (As of 31.12.2016 the Armenian Dram forex exchange rate formed AMD483,94/USD1). In Q4 2016, Armenian Insurers signed 291335 Agreements, exceeding the last year figure in respect to those for 1,7%. Hence, as of January 01, 2017, the number of actual insurance agreements formed 633681 within the annual growth for 7,1%. Among all the categories the leading position due to the number of agreements concluded is held by OSAGO (216,3 thousand in Q$ 2016), which actual agreements number reached 422.8 thousand, as of Jan 1, 2017. Among the voluntary/optional insurance categories the most demanded is the accident insurance, due to which there had been 32.3 thousand agreements concluded in Q4 2016, and the number of those actual as of January 1, 2017 reached the figure of 115,9 thousand. In OSAGO sector the leadership due to agreements volume is kept by Rosgosstrakh Armenia ( 116,2 thousand actual for January 1, 2017, 59 thousand of which signed in Q4 2016), due to accident insurance and due to CASCO the leadership is held by RESO (81,9 thousand and 11,9 thousand respectively actual for January 1). The leader of the medical insurance sector is the SIL Insurance (5,7 thousand actual agreements as of January 1), and the leaving-for- abroad insurance sector is leaded by Rosgosstrakh Armenia (5,3 thousand actual as of January 1, 2017). To mention, nowadays in Armenia 17 insurance categories are being implemented of those 19 existing, except railway transport, legal and non-judicial expenses. INGO Armenia works under 16 categories, and Rosgosstrakh Armenia - under 15. Three companies - SIL Insurance, Armenia Insurance and RESO - deal with 11 categories, and Nairi Insurance operates under 5 categories.