Yerevan market blast: government not to compensate for damages 

 Wednesday, August 24 2022 12:39:00
Yerevan market blast: government not to compensate for damages 

ArmInfo.The traders working at the Surmalu shopping center would not face problems now if they had insured their businesses, Armenia's Minister of Economy Vahan  Kerobyan told reporters on Wednesday. 

FinRating ArmInfo: The corporate component dominates in the premium  portfolios of Armenian insurers, while the retail component dominates  in compensations
 Saturday, August 20 2022 13:57

ArmInfo. The share of the corporate component continues to prevail over the retail one in the premium portfolios of Armenian insurers in H1 2022, - 58.2% (19.7  billion drams) against 41.8% (14.1 billion drams), which is very  close to the data of a year ago - 57% against 43% respectively.  

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Finrating ArmInfo: Armenia`s insurance sector summed up H1 2022 with  a profit of $5.6 million
 Thursday, August 18 2022 12:30

ArmInfo.The total net profit of insurance companies (ICs) in Armenia for H1 2022 reached 2.3 billion drams ($5.6 million), with a y-o-y  19-multifold increase, with a  quarterly decline of 13.1%, against a y-o-y decline of 2-fold and a  quarterly increase of 2.5-fold in comparable periods in 2021. 

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"Rossgostrakh Armenia" IC continues to lead in net insurance premiums  and claims
 Thursday, August 18 2022 12:26

ArmInfo.. "Rossgostrakh Armenia" IC continues to lead in terms of net insurance premiums and net insurance claims. According to the data of the Financial Rating of  Insurance Companies of Armenia as of June 30, 2022, prepared by  ArmInfo, following the results of the first half of the year, the net  insurance premiums of "Rossgostrakh Armenia" IC exceeded 5.9 billion  drams ($14.6 million), and net insurance claims - 3.8 billion drams  ($9.4 million), with a y-o-y growth of the net insurance premiums by  11.3%, while the net insurance claims declined by 7.3%.

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CMTPLI loss rate going down in Armenia 
 Monday, July 18 2022 12:49

ArmInfo.The loss rate for compulsory motor third-party liability insurance (CMTPLI) is going down - 65% in the first half of 2022 against 81% in the first half of  2021, and 73% in 2019. The cause is a 19.7% year-on-year increase in  the number of insurance contracts, which caused a 21.4% increase in  insurance premiums, up to $29mln, with a simultaneous 8.7% decline in  insurance indemnities, down to $18.7mln, the Armenian Motor Insurers'   Bureau reports.  

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Fine for lack of CMTPL policy will be halved in Armenia
 Tuesday, June 14 2022 16:43

ArmInfo. In Armenia, the amount  of the fine for the lack of an CMTPL policy will be halved   (compulsory third-party liability insurance policy-CMTPL policy). At  the plenary session on June 14, the Parliament of the country  discusses the amendments to the Code of Administrative Offenses in  the first reading.

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Armenia studies experience of Lithuania in process of implementation  of health insurance system
 Tuesday, May 31 2022 21:50

ArmInfo.Armenia is studying the Lithuanian experience in the process of introducing a health insurance system. This is stated in the official statement of the  Ministry of Health.

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CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022
 Monday, May 16 2022 19:31

ArmInfo.In Armenia, the number of vehicles with a CMPTL policy increased in January-April 2022 more significantly than in the pre-Covid comparable period, which allowed the volume of insurance premiums to exceed the upward trend of two  years ago.

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FinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concluded
 Wednesday, May 11 2022 15:19

ArmInfo. The share of the corporate component in the premium portfolios of Armenian insurers in Q1 2022 exceeds the retail component - 65.5% (13.3 billion drams) and 34.5% (7 billion drams), almost repeating the figures of a year ago - 64.9%  and 35 .1% respectively.  

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"Rossgostrakh Armenia" IC holds lead in net insurance premiums
 Wednesday, May 4 2022 18:30

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.

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Finrating ArmInfo: Armenia`s insurance sector summed up Q1 2022 with  profit of $2.5 million
 Wednesday, May 4 2022 15:50

ArmInfo. The total profit of insurance companies (ICs) of Armenia for Q1 2022 exceeded 1.2 billion drams (over $2.5 million), with a 4-4.4-fold climb in terms of y-o-y  and quarterly  (against a 2.2-2.5-fold decline in the comparable  periods of 2021).

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Armenian insurance sector reports 35.5% increase in tax payments
 Wednesday, April 20 2022 14:09

ArmInfo. In the first quarter of 2022, the Armenian insurance sector's tax payment a total of AMD 667.7mln - a 35.3% year-on-year increase. Of this amount, direct  taxes totaled AMD 574.2mln (85.9%) - a 37% year-on-year increase. 

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Loss ratio for CMPTL in Armenia decreased in Q1 2022 to 68% from 88%  in 2021
 Friday, April 15 2022 17:18

ArmInfo.. The number of vehicles with an CMPTL policy in Armenia,  in Q1 2022increased  more significantly than in the pre-Covid comparable period, due to which the volume of insurance premiums exceed the upward trend of two years  ago.

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Armenia`s insurance sector`s profit decreased sharply
 Thursday, February 10 2022 14:55

ArmInfo.The profit of the insurance sector of Armenia decreased by 79.2% in 2021 - to 849.4 million drams ($1.8 million), while for  Q4 alone it decreased by  60.1%.  

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More servicemen`s families to receive compensations under new bill  
 Wednesday, February 9 2022 11:05

ArmInfo.Armenia's Parliament, on Wednesday, adopted, at its second reading, a bill on the recipients of compensations for damages caused to servicemen's health  and of servicemen's life insurance indemnities.

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CMTPL policies in Armenia have risen in price by 3.000 drams
 Monday, February 7 2022 20:11

ArmInfo. Since today, compulsory motor vehicle  insurance policies (CMTPL) in Armenia have risen in price by 3.000  drams ($6.5).

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Moody`s assigns Ba3 IFSR to Export Insurance Agency of Armenia with  stable outlook
 Wednesday, January 19 2022 21:09

ArmInfo.Moody's Investors Service ("Moody's") has today assigned Ba3 foreign and local-currency insurance financial strength ratings (IFSRs) to Export Insurance  Agency of Armenia ICJSC (EIA).

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CMTPL e-policies continue to grow rapidly in Armenia, approaching  quarter of total number of contracts
 Wednesday, January 19 2022 16:18

ArmInfo. In Armenia, the number of vehicles with CMTPL policy is gradually recovering its growth rates, allowing the increase in fees to gain momentum. Thus,  according to the Bureau of Motor Insurers of Armenia, their number  increased by 9.6% per annum in 2021, with an exit from the 12.4%  decline in 2020, but so far is much inferior to the pre-Covid  ascending 18.5% in 2019.

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Agricultural insurance contracts show 3-fold increase in one year 
 Friday, December 24 2021 18:31

ArmInfo.A total of 1,345 insurance contracts were signed in Armenia under the pilot  agricultural insurance programme, with 4,300 contracts signed this  year, Ira Panosyan, Head of the Department of Agricultural Programs  Elaboration, Resource Use and Cooperative Development, RA Ministry of  Economy, told reporters. 

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Insurance Foundation for Servicemen: Unprecedented growth of the  Foundation`s beneficiaries is associated with the Artsakh war
 Thursday, December 23 2021 17:53

ArmInfo.Since its inception, the Military Insurance Fund has provided financial  assistance to 4,660 beneficiaries, including soldiers who received  disabilities of groups 1 and 2 during the war and families, and died  or missing soldiers. Smbat Saiyan, Deputy Director of the Insurance  Foundation for Servicemen announced this during a press conference.

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E-CMPTL policies in Armenia have surpassed bar of 200 thousand  units; this is almost quarter of total number of contracts
 Monday, December 20 2021 13:57

ArmInfo. The number of vehicles with a compulsory motor third party liability insurance (CMPTL) policy in Armenia is gradually recovering its growth rates,  which allows the growth of fees to gain momentum.

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