ArmInfo. The share of retail insurance in the portfolios of premiums of Armenian insurers for the 9 months of 2017 amounted to 57.1% (14.02 billion drams), corporate - 42.9% (10.5 billion drams). At the same time, the capacity of the retail insurance market improved the annual trend from minus 0.2% to plus 3.5%, along with the rate of growth of corporate insurance accelerated from 0.9% to 4.2%. Before the introduction of OSAGO in Armenia, as well as compulsory individual health insurance of state employees, the share of corporate insurance significantly prevailed over retail.
According to Ranking of insurance companies of Armenia, as of October 1, 2017, prepared by ArmInfo News Agency, retail insurance prevails in premium portfolios of all insurers, with the exception of INGO Armenia, with corporate insurance prevailing - 53.5%. The largest disproportion between retail and corporate insurance was recorded by three companies - RESO (71.7% and 28.3%), Insurance Armenia Insurance (71% and 29%) and Insurance Company Nairi Insurance (66.1% and 33.9%). The share of retail insurance in Rosgosstrakh Armenia Insurance Company slightly prevails over the corporate one - 54.1% and 45.9%, and this insignificant difference appears in the Insurance Company "Sil Insurance" - 55.8% and 44.2%.
In the structure of insurance reimbursements, the share of payments to retail customers was 71.9% or 8.6 billion AMD, corporate - 28.1% or 3.4 billion AMD. At the same time, reimbursements to legal entities slowed the annual growth from 20% to 7%, with the improvement in the trend of payments by physical - from negative 1% to plus 25%.
In the structure of premiums listed for reinsurance, the share of corporate insurance amounted to 92.6% or 2.9 billion AMD (with the release of annual dynamics from the 10% decline to 10% growth), retail - 7.4% or 230 million. AMD (with the acceleration of annual growth from 3% to 16%).
Armenian insurers for the III quarter of 2017 concluded 298,466 contracts, exceeding the number of contracts of the previous year by 3.9%. Thus, the number of insurance contracts effective as of October 1, 2017 was 680742 with an annual growth of 4.5%. Among the classes the leading position in terms of the number of concluded contracts is held by OSAGO - in the third quarter more than 201 thousand, the number of valid contracts for which as of October 1 exceeded 461 thousand. Of voluntary types of insurance, the most popular is insurance against accidents, which in the third quarter is concluded 39.5 thousand contracts, and the number of acting as of October 1 reached 134.1 thousand. According to the number of contracts in the segment of OSAGO, Rosgosstrakh Armenia (120.5 thousand operating on October 1, out of which 43.7 thousand are concluded in the III quarter) leads, and this (2.1 thousand operating on October 1, of which 831 for the third quarter), for insurance against accidents and for CASCO, RESO (73.2 thousand and 4.3 thousand, respectively, acting on October 1) holds the championship, In terms of property insurance, leadership was entrusted to INGO Armenia (16.6 thousand operating on October 1), and the same company took precedence over insurance for travelers abroad (5.9 thousand operating on October 1).
In terms of the number of contracts concluded in the third quarter of the year, INGO Armenia CJSC was the leader - 75.1 thousand, having displaced 66.4 thousand to the second position of Rosgosstrakh Armenia, 50.4 thousand - RESO - on the third, 48.8 thousand on the fourth Nairi Insurance at the fifth Force of Insurance - 29.2 thousand and closes the list of Armenia Insurance - 28.4 thousand. All six companies have a dominant in concluded contracts with OSAGO with a maximum of Seal Insurance (80%) and a minimum in INGO Armenia (54%).