ArmInfo. The share of retail insurance in premiums of Armenian insurers in the first quarter of 2018 amounted to 36.8% (5.2 billion AMD), corporate - 63.2% (8.9 billion).
At the same time, retail insurance improved the annual dynamics with the release of a 3.9% decline in 4.4% growth, while the rate of climbing of corporate insurance sharply accelerated from 3.7% to 94.5%. Before the introduction of OSAGO in Armenia, as well as obligatory individual health insurance of state employees, the share of corporate insurance significantly prevailed over retail.
According to Ranking of insurance companies of Armenia prepared by NA ArmInfo, as of April 1, 2018, corporate insurance prevails in premium portfolios of all insurers, with the exception of Armenia Insurance, whose retail prevails - 51.9%. The largest disproportion between retail and corporate insurance was recorded in INGO Armenia - 29% and 71%. Rosgosstrakh Armenia has a 39% share of retail insurance, and 61% of corporate insurance.
In the structure of insurance reimbursements, the share of payments to retail customers was 64.3% or 3.7 billion drams, corporate - 35.7% or 2.04 billion drams. At the same time, reimbursements to legal entities improved the dynamics with the exit from the 17% decline to 96% growth, while the rate of ascent of payments to individuals slowed from 30% to 17%.
In the structure of premiums listed for reinsurance, the share of corporate insurance was 91.3% or 1.02 billion drams (slowdown of annual growth from 34% to 10%), retail - 8.7% or 96.4 million drams (with the release of annual dynamics from 4% decline in 90% growth).
Armenian insurers for the I quarter of 2018 concluded 335,360 contracts, exceeding the number of contracts of a year ago by 23.5%. Thus, the number of insurance valid contracts as of April 1, 2018 was 754232 with an annual growth of 17.1%. In the first quarter, 215.9 thousand OSAGO holds the leading position in terms of the number of contracts concluded; in the first quarter, the number of active contracts reached 468.3 thousand. Medical insurance, due to the gradual introduction of the obligatory segment, reached the second position in the contracts concluded in the first quarter - 48.2 thousand, as a result of which the number of contracts effective on April 1 in this class reached 51.4 thousand. It is noteworthy that health insurance demonstrated the highest growth in terms of the number of contracts concluded in the quarter, and on the current as of the reporting date. Of the voluntary types of insurance, the most popular is insurance against accidents, in which 35.4 thousand contracts were concluded in the first quarter, and the number of those operating by April 1 reached 147.7 thousand. According to the number of contracts in the segment of OSAGO, Rosgosstrakh Armenia (123.7 thousand) April 1, 52.8 thousand of them were concluded in the first quarter), which is also in the first position for medical insurance and for the insurance of those traveling abroad (30.1 thousand, and about 5 thousand as of April 1, respectively). On insurance against accidents, the first position was taken by INGO Armenia Insurance Company (54.4 thousand operating on April 1, of which 18.7 thousand were concluded in the first quarter), according to CASCO, RESO retains the lead (over 3 thousand operating on April 1), On property insurance, leadership was entrusted to INGO Armenia (19.6 thousand effective as of April 1).
Rosgosstrakh Armenia is leading in terms of the number of contracts concluded in the first quarter of the year, 101,000 in the first place, 70.4 thousand in INGO Armenia, 52.1 thousand in the third Nairi Insurance, 46.8 thousand at the fourth Force Insurance, 36.2 thousand at the fifth RESO ., and closes the list of Armenia Insurance - 28.9 thousand. For all six companies, the compulsory motor third party liability insurance with a maximum of Nairi Insurance (88.4%) and a minimum of Rosgosstrakh Armenia (52.3%) falls in the concluded contracts.
In the total number of contracts concluded for the first quarter, 64.4% account for the share of OSAGO, and for health insurance - 14.4%, versus 76% and 0.4%, respectively, a year earlier. And in the structure of contracts effective as of April 1, 2018, the share of OSAGO reached 62.1% and medical insurance - 6.8%, versus 67.6% and 1.5% for the same date a year ago.
In Armenia from the available 19 insurance classes for today 17, except for railway transport, judicial and extrajudicial expenses are involved. I'm leading in insurance classes - INGO Armenia (16) and Rosgosstrakh Armenia (15). Moreover, SC "Rosgosstrakh Armenia" is the only insurance market licensed for insurance of credit risks, and "INGO Armenia" Insurance Company is the only one for insurance of water transport and liability from its use. (The calculated exchange rate of AMD as of March 31, 2008 was 480.06 AMD/USD1).