Thursday, November 1 2018 12:50
Karine Melikyan

Share of retail insurance is almost equal to the corporate one in  premiums portfolio of the Armenia`s insurance companies 

Share of retail insurance is almost equal to the corporate one in  premiums portfolio of the Armenia`s insurance companies 

ArmInfo. The share of retail insurance in the portfolios of premiums of Armenian insurers in the first 9 months of 2018 was 49.7% (15.2 billion AMD), corporate  insurance share was 50.3% (15.4 billion AMD), versus 57.1% and 42.9%   respectively a year earlier.

At the same time, retail insurance  accelerated y-o-y growth from only 3.5% to 8.2%, while the growth of  corporate insurance grew sharply from 4.2% to 45.6%. Prior to the  introduction of CMTPL in Armenia, as well as mandatory individual  health insurance of state employees, the share of corporate insurance  significantly prevailed over retail one.

According to the ranking of insurance companies of Armenia prepared  by ArmInfo as of October 1, 2018, corporate insurance prevails in  premium portfolios of two insurers - INGO Armenia and Sil Insurance -  60.5% and 50.1%, respectively, and retail insurance prevails in  premiums of the rest four companies - 50,6- 62.9%. The largest  disproportion between retail and corporate insurance was recorded in  INGO Armenia - 39.5% and 60.5%, and Armenia Insurance - 62.9% and  37.1%. As for Rosgosstrakh Armenia, the share of retail insurance was  50.8%, and corporate insurance - 49.2%.

In the structure of insurance claims, the share of payments to retail  customers accounted for 67.2% or 11.1 billion AMD, corporate - 32.8%  or 5.4 billion AMD, against 71.9% and 28.1% respectively a year  earlier.  At the same time, reimbursement to legal entities sharply  accelerated growth - from 7% to 61%, while the rise in payments to  individuals accelerated moderately - from 25% to 29%. The share of  retail payments prevails in insurance payouts by the five insurers,  and Rosgosstrakh Armenia insurance company holds the lead - 90.9%  (with a y-o-y increase in the absolute value by 41%). And only in  INGO Armenia's portfolio of insurance claims the share of corporate  payouts prevails - 52.3% (with a y-o-y increase in the absolute value  by 63%).

In the structure of premiums transferred for reinsurance, the share  of corporate insurance was 90.2% or 3.1 billion AMD (slowdown in  y-o-y growth from 10% to 9%), retail - 9.8% or 340.5 million AMD  (with an acceleration of y-o-y growth from 16% to 48%).

In Q3 2018Armenian insurers concluded 357518 contracts, exceeding the  number of contracts of previous year by 19.8%. Thus, the number of  insurance contracts valid on October 1, 2018 was 838037 with a y-o-y  growth by 23.1%. Among classes, the leading position in terms of the  number of contracts holds CMTPL- 234.7 thousand in the Q3, the number  of active contracts on which exceeded 484.5 thousand by October 1.   Thanks to the phased introduction of the obligatory segment, health  insurance is the third - 49.9 thousand, in Q3 alone 1.9 thousand were  concluded. It is noteworthy that health insurance showed the highest  growth in the number of active contracts - 10-fold. Of the voluntary  types of insurance, the most popular insurance is accident insurance,  according to which 58.1 thousand contracts were concluded in the Q3,  and the number of valid ones by October 1 reached 201.7 thousand  (with a y-o-y growth of 50.3%). 

By the number of contracts in the segment of CMTPL, Rosgosstrakh  Armenia is the leader (133.2 thousand operating as of October 1, of  which 62.6 thousand were concluded in the Q3), which is also in the  first position in health insurance (29.5 thousand valid on October  1). On insurance of those traveling abroad, INGO Armenia Insurance  Company (6 thousand valid on October 1) became the leader in terms of  the number of contracts, which holds the first position on accident  insurance and property insurance (respectively 101.5 thousand and  23.5 thousand valid on October 1) . In terms of comprehensive  automobile insurance, Sil Insurance took the leadership (1.907  thousand valid on October 1), yielding the RESO Insurance Company,  which was the leader previously, to the second position (1.894  thousand valid on October 1).

By the number of contracts concluded in the Q3 INGO Armenia leads -  95 thousand, "Rosgosstrakh Armenia" is the 2nd - 94.4 thousand, Nairi  Insurance is the 3rd - 69.2 thousand, Sil Insurance is the 4th - 35.9  thousand, RESO is the 5th - 32.2 thousand, and Armenia Insurance  closes the list - 30.7 thousand.  Contracts on CMTPL dominate in the  contracts of all the six companies with a maximum by Sil Insurance  (87.1%) and a minimum by INGO Armenia (43,5 %).

In the total number of contracts concluded in the third quarter, the  share of CMTPL accounts for 65.6%, and the share of health insurance  - 0.53%, against 67.4% and 0.54%, respectively, a year earlier. And  in the structure of contracts valid on October 1, 2018, the share of  CMTPL accounted for 57.8% and health insurance - 5.95%, against 67.7%  and 0.68% on the same date a year earlier.

To note in Armenia, out of 19 available insurance classes, 17 are  currently involved, with the exception of railway transport, judicial  and extrajudicial expenses. The leaders in insurance classes are INGO  Armenia (16) and Rosgosstrakh Armenia (15). Moreover, Rosgosstrakh  Armenia Insurance Company is the only one in the insurance market  licensed for insuring credit risks, and INGO Armenia Insurance  Company is the only one for insuring water transport and liability  for its use. (The estimated exchange rate of the dram on September  30,2018 was 482.71 AMD / 1$).


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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000