ArmInfo. The premiums of Armenian insurance companies grew for 3.1% during Q1 2017, with amends' increase only for 0.7%. At the same time, insurance premiums fell by 1.1%, with an increase in payments by 32.6%. By April 1, 2017, the total volume of insurance premiums amounted 9.4 billion AMD, and the amount of insurance indemnities - 4.3 billion AMD (figures from the reports of the IC on IFRS standards).
According to the Ranking data of Armenian insurance companies prepared by IA ArmInfo, as a result of this, the insurance system summed up the I quarter of 2017 with net profit of 518.9 million AMD with a quarterly growth of 3 times, with an annual decline of 60.3%.
According to the reports of SC portfolios on ACB standards, insurance premiums amounted to 9.5 billion AMD (annual decline by 0.4%), and compensation - 4.2 billion AMD (annual growth of 13.8%). The decline in fees during the reporting period was recorded in 4 out of 6 companies operating in the Armenian insurance market, while the decline in compensation was observed in the 1st.
The first place in the volume of collected premiums is traditionally held by Rosgosstrakh Armenia Insurance Company with an indicator of 2.8 billion AMD. In the second place is INGO Armenia, with a portfolio of 2.7 billion AMD. TOP-3 closes "Nairi Insurance" - 1.43 billion AMD. Next to them, by size of the insurance portfolio, "Sil Insurance"IC - 1.38 billion AMD, "RESO" Insurance Company - 796.1 million AMD and "Armenia Insurance" Insurance Company 475.2 million AMD.
In the structure of insurance premiums, the largest share traditionally fell on CMTPL - 57.69% or 5.5 billion AMD (annual decline of 5%). In the medical (including voluntary) insurance segment, companies collected premiums of 2.2 billion AMD or 22.97% of the total insurance premiums (an increase of 15.5% over the year). The share of property risk insurance, in particular from fires and natural disasters, accounted for 5.11% of the total premiums or 486.9 million AMD (a year-on-year decline of 8.7%). On the segment of CASCO (land transport), insurance companies collected premiums for 442.9 million AMD or 4.65% of the total premiums (a decline of 8.3% for the year).
In addition, according to 9 insurance classes, Armenian insurers collected 913.4 million AMD. Armenian insurers did not sign a single contract during the reporting period on 4 insurance classes (insurance of water transport, insurance of liability from using water transport, insurance of provided guarantees and insurance of credit risks). It should be noted that only Rosgosstrakh Armenia Insurance Company is involved in insurance of credit risks in Armenia, and only 2 companies - Rosgosstrakh Armenia and INGO Armenia - work in the segment of aviation insurance.