ArmInfo. "Rossgostrakh Armenia IC " holds the lead in net insurance premiums, while continuing to lead in net insurance claims as well. This is evidenced by the data of the Financial Rating of Insurance Companies of Armenia as of March 31, 2022, prepared by ArmInfo IC, based on the results of the first quarter.
Net insurance premiums of "Rossgostrakh Armenia" IC exceeded 2.9 billion drams ($6.1 million), and net insurance claims - 1.8 billion drams ($3.7 million), with a y-o-y growth of net insurance premiums by 9%, and with decrease of net insurance claims by 11.5%. This allowed the insurance company to get out of the loss for profit, with a 2.5-3.3-fold y-o-y and quarterly growth. . The market share of IC "Rossgostrakh Armenia" in the total volume of insurance premiums is 30%, and the share of the company in the total indemnities exceeds 31%. The most significant increase in the annual payments of "Rosgosstrakh Armenia" was ensured by the general liability insurance - 2.3 times, The most significant increase in the y-o-y payments of "Rossgostrakh Armenia" IC was provided by general liability insurance - 2.3-fold, tour insurance- by 88%, insurance of agricultural risks - by 65%, CASCO - by 59% and cargo transportation insurance - by 47%. And the most significant decline in net indemnities of "Rossgostrakh Armenia" IC was recorded by property insurance against fires and natural disasters - by 73.6%, CASCO - by 47.5%, liability from the use of vehicles - by 37%, at the same time, indemnities for travel insurance increased significantly - 183-fold, cargo transportation insurance - 40fold, general liability - 4-fold, agricultural insurance - 2-fold.
Most of the insurance premiums of "Rossgostrakh Armenia" IC are concentrated on such classes as CMPTL and medical insurance, and in reimbursements, the dominant volume falls on CMPTL.
"Nairi Insurance" is in the second place in terms of net insurance premiums- more than 2.2 billion drams ($ 4.6 million), while continuing to occupy the third place in terms of net insurance claims - 1 billion drams ($2.1 million), with a y-o-y growth of the net insurance premiums by 15.8% and with a decline in the net insurance claims by 16.7%.
"INGO Armenia" IC occupies the third place in terms of net insurance premiums- more than 2.1 billion drams ($4.4 million), while holding the second place in terms of net insurance claims - 1.4 billion drams ($2.9 million), with the same y-o-y growth of both indicators by 16.7%.
The fourth, fifth and sixth places in terms of net insurance premiums continue to be occupied by the "Sil Insurance", "RESO" IC and Armenia Insurance - 1.2 billion drams, 961.8 million drams and 845.9 million drams, respectively. And the indicated insurance companies occupy the same places in terms of net insurance claims - 759.8 million drams, 581.7 million drams and 447.1 million drams, respectively. Of these companies, "Sil Insurance" and "RESO" IC provided y-o-y growth in net insurance premiums, but at the same time, all three companies reduced net insurance claims.
It should be noted that there are 6 companies operating in the insurance market of Armenia, which work on 17 out of the available 20 classes of insurance, with the exception of insurance of railway transport and liability from its use, insurance of legal and extrajudicial expenses.
Since Q2 2020, a class of agricultural risk insurance has been added to the IC reports, but it is not summed up to the final indicator, since it is taken into account in two other types of insurance: property from fires and natural disasters, property from other damages.
