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).