In Armenia, the capacity of the retail insurance market accelerated the upward trend for 2017 from 0.2% to 4.5%, while the corporate market slowed from 12.1% to 8.5%

ArmInfo. The share of retail  insurance in the portfolios of premiums of Armenian insurers amounted  to 56.1% (19.6 billion AMD), corporate - 43.9% (15.3 billion) in  2017. At the same time, the capacity of the retail insurance market  accelerated the upward trend to 4.5% from 0.2% in 2016, and, at the  same time, corporate insurance growth slowed to 8.5% from 12.1% in  2016.  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 January  1, 2017, prepared by NA ArmInfo, retail insurance prevails in premium  portfolios of all insurers, with the exception of INGO Armenia, with  corporate insurance prevailing - 54.8%. The largest disproportion  between retail and corporate insurance was recorded by three  companies - RESO (70.6% and 29.4%) and Insurance Armenia Insurance  (69.1% and 30.9%). The insignificant disproportion between retail and  corporate insurance is observed in Nairi Insurance - 59.7% and 40.3%  and Sil Insurance - 57.9% and 42.1%. In the "Rosgosstrakh Armenia"  Insurance Company, the share of retail insurance slightly prevails  over the corporate one - 55.7% and 44.3%.

In the structure of insurance reimbursements, the share of payments  to retail customers was 71.5% or 12.7 billion drams, corporate -  28.5% or 5.1 billion drams. At the same time, reimbursements to legal  entities slowed the annual growth from 17% to 15%, with a sharp  acceleration of the upward trend of payments by the physical - from  0.3% to 29%.

In the structure of premiums listed for reinsurance, the share of  corporate insurance was 93.4% or 4.4 billion drams (with a change in  the annual dynamics of the 23% growth by 2% decline), retail - 6.6%  or 312.6 million drams (with the acceleration of annual growth from  3% to 15%).

Armenian insurers for the IV quarter of 2017 concluded 343154  contracts, exceeding the number of contracts of a year ago by 17.8%.  Thus, the number of insurance contracts effective as of January 1,  2018 was 693,607 with an annual growth of 9.5%. Among the classes the  leading position in terms of the number of concluded contracts is  held by CMTPL - in the IV quarter about 231 thousand, the number of  valid contracts on which as of January 1 exceeded 458 thousand. Of  voluntary types of insurance, the most popular is accident insurance,  which in IV quarter is concluded 44.6 thousand contracts, and the  number of acting as of January 1 reached 146.3 thousand. According to  the number of contracts in the segment of OSAGO, Rosgosstrakh Armenia  (116.5 thousand operating on January 1, out of which 53 thousand are  concluded in the IV quarter) leads, The economy is dominated by  health insurance (2.1 thousand operating as of January 1), accident  insurance and CASCO are held by RESO (58.5 thousand and 3.6 thousand  respectively acting on January 1), property insurance leadership was  entrusted to " INGO Armenia "(18.1 thousand operating on January 1).  Rosgosstrakh Armenia and INGO Armenia are leading in terms of  insurance for those traveling abroad with almost the same number of  contracts effective as of January 1, 5.6 thousand and 5.4 thousand,  respectively, but INGO Armenia leads in 6.3% versus in the fourth  quarter 4.6 thousand from Rosgosstrakh Armenia.

In terms of the number of contracts concluded in the IV quarter of  the contract, 81,000 were assigned to INGO Armenia Insurance Company,  79.8 thousand to Rosgosstrakh Armenia, 55.7 thousand to Nairi  Insurance, and 48.2 thousand to the fourth RESO . At the fifth Sil  Insurance - over 47 thousand. And closes the list of Armenia  Insurance - 31.5 thousand. All six companies have a dominant in  concluded contracts, compulsory motor third party liability insurance  with a maximum of Seoul Insurance (90%) and a minimum of RESO (45%).

In Armenia from the available 19 insurance classes for today 17 are  involved, with the exception of railway transport, judicial and  extrajudicial expenses. Ingo Armenia works for 16 types, Rosgosstrakh  Armenia for 15, Nairi Insurance for 12, 11 for SIL Insurance, Armenia  Insurance and RESO. (The calculated exchange rate of the dram to the  dollar as of 31.12.17 was 484.10 AMD/USD1).