Thursday, August 22 2019 20:08
Alina Hovhannisyan

Armenian insurance sector in the first half of 2019 reduced tax  payments by 18.2%

Armenian insurance sector in the first half of 2019 reduced tax  payments by 18.2%

ArmInfo. In the first half of 2019, the insurance sector of Armenia paid taxes at 928.5 million drams, which is 18.2% lower than the indicator a year ago. Of this  amount, 246.8 million drams accounted for income tax, which is 38.5%  lower than last year. According to the RA State Revenue Committee,  according to the results of the first half of 2019, only "Armenia  Insurance" IC was not included in the list of 1000 largest taxpayers  of Armenia from the functioning 6 insurance companies.

The list was headed by "Rosgosstrakh Armenia" IC, which took the  226th place (versus 212 the year before), having paid 380 million  drams to the state budget, of which 58.1 million drams - for income  tax.  IC "INGO Armenia" took 337th place (versus 267th year earlier),  replenishing the state budget by 251.5 million drams, of which 115.2  million drams - for income tax. "Sil Insurance" IC took 719th place  (versus 636 the year before), having paid 113.9 mln drams, of which  49.2 mln drams for profit tax. RESO IC - 810th place (versus 633 the  year before), having paid 102.1 million drams, of which the amount of  income tax amounted to 2.6 million drams. Nairi Insurance IC - 995th  place (versus 486th a year earlier), having transferred 81 million  drams to the state treasury, incl. 21.8 million drams - for income  tax.

According to the ranking of Armenian Insurance Companies prepared by  ArmInfo IC, the total accumulated profit of the Armenian insurance  sector amounted to 2.98 billion drams by July 1, 2019, an increase of  4.8% year on year. By July 1, accumulated profit was recorded in 4  out of 6 operating companies. Rosgosstrakh Armenia IC secured the  first two positions in terms of accumulated profit - 2.3 billion  drams (15% annual decline) and INGO Armenia IC - 1.3 billion drams  (25.4% annual growth). In the first half of 2019, the insurance  sector completed with a net profit of 982.4 million drams (annual  growth of 41.2%), after paying taxes with which the net profit  amounted to 757.8 million drams (annual growth of 71%). In terms of  net profit, the first two positions are held by Nairi Insurance and  INGO Armenia. In the first half of 2019, out of 6 insurance companies  with a net profit, they completed 5. (the calculated exchange rate of  AMD to the dollar as of June 28, 19 amounted to 477.11 dr / $ 1).

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10 billion

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200 million

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200 million

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200 million

Yield at cut-off price

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