"LIGA Insurance" tops list of largest taxpayers in Armenia among  insurance companies 

ArmInfo."LIGA Insurance" topped the list of the largest taxpayers in Armenia among insurance  companies. According to data from the State Revenue Committee, the LIGA Insurance insurance company rose to the 384th place (the 554th in 2022), paying AMD 815.1mln the state budget, of which AMD 682.6mln  as direct taxes.

This is followed by IC "Nairi Insurance", which ranked the 521st  (against 432nd in 2022), AMD 618.8mln the state budget, of which AMD  527.1mln as direct taxes.

IC "INGO Armenia" moved down to the 580th place in this list (457th  in 2022), AMD 563.7mln to the state budget, of which AMD 474.6mln as  direct taxes.

According to the State Revenue Committee, in the list of the largest  taxpayers in Armenia, out of the now 7 operating insurance companies  (taking into account the new insurance company "EFES"), only 3  continue to appear, and this is the same as the above-mentioned  insurance companies a year earlier. They managed to increase tax  payments for 2023 by 11.8% - to AMD 1.9bln, of which about AMD 1.7bln  paid as direct taxes (an annual increase of 21.4%).

The list of large taxpayers at the end of 2023 did not include the  following insurance companies: "Armenia Insurance", "Sil Insurance",  "REGO Insurance" (formerly called RESO) and the new IC "EFES", which,  with the exception of the last one (it was not on the market then)  were absent from the list in 2022. In 2021, IC "Armenia Insurance"  ranked 530th  (AMD 385.6mln, of which AMD 361mln as direct taxes), IC  "Sil Insurance" ranked 830th (AMD 210.4mln, with AMD 167.7mln of them  as direct taxes), and IC "REGO" (then called RESO) has not been on  the list of large taxpayers since 2019, previously occupying the  647th position in 2018.

In 2022, the insurance sector of Armenia reduced tax payments by 38%  - down to AMD 1.7bln, of which 83.7% or AMD 1.4bln were paid as  direct taxes (with an annual decline of 35%). At that time, the  leadership in tax payments among insurance companies was held by  Nairi Insurance, followed by INGO Armenia Insurance Company and LIGA  Insurance. (the AMD/USD exchange rate as of December 31, 2023 was AMD  404.79/$1, against AMD 393.57/$1 as of December 31, 2022).