FinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concluded

 Wednesday, May 11 2022 15:19:00
FinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concluded

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.  

"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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Number of vehicles with CMPTL policy in Armenia, is growing very  slowly, restraining increase in fees
 Tuesday, November 2 2021 11:36

ArmInfo. In Armenia, the very slow growth of vehicles with a CMPTL policy restrains the growth of fees. So, according to the Motor Insurers' Bureau of Armenia, in  January-September 2021 their number increased by 1.3% per annum, with  a change of the 3.6% decline a year earlier, but is still much  inferior to the pre-COVID rising rates of 14.3% for the same period  of 2019.

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Armenia`s insurance sector increased payments to state treasury by  31.3%, in Jen-Sep of 2021
 Thursday, October 21 2021 13:37

ArmInfo. The insurance sector of Armenia in January- September 2021 paid taxes for 2.1 billion drams ($ 4.3 million), which is 31.3% higher than a year ago  (against 33.3% growth a year earlier). Of this amount, 1.8 billion  drams fell on direct taxes, with a y-o-y growth of 28.6% (against  16.7% growth a year earlier).

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Growth of vehicles with CMTPL insurance resumes in Armenia and an  upward trend in fees has been outlined
 Friday, September 24 2021 16:35

ArmInfo. The growth of vehicles with CMTPL (compulsory motor third party liability policy) resumed in Armenia. And as evidenced by the data of the Bureau of  Motor Insurers of Armenia, their number increased in January-August  2021 by 1% per annum, with an exit from the 2.9% decline a year  earlier, but so far it is much inferior to the pre-covid upward rate  of 13% for the same period in 2019.

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FinRating ArmInfo: Travel insurance fees have grown, while  reimbursements remained in decline
 Monday, September 6 2021 17:49

ArmInfo.In Armenia, fees on travel insurance reached a significant 70% growth in the first half of 2021 (from a significant 46.4% decline a year earlier), reaching a  volume of 235.9 million drams ($ 475.8 thousand). Such growth,  associated with some activation of outbound tourism, allowed not only  to approach the volume of two years ago, but also to return the 1%  share of travel insurance in the total portfolio of premiums.

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FinRating ArmInfo: Activation of travel insurance is confirmed by the  tangible growth of concluded contracts
 Monday, August 16 2021 17:18

ArmInfo.In the premium portfolios of Armenian insurers in the first half of 2021, the  corporate component continues to prevail over the retail one - 57%  (15.1 billion drams) and 43% (11.4 billion drams), almost repeating  the indicators of a year ago - 56.2% and 43.8% respectively.  According to the Financial Rating of Insurance Companies of Armenia,  prepared by ArmInfo IC, the annual dynamics of the absolute values of  both indicators changed from the 7.4-8.5% decline by 10.9-7.6%  growth.

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Number of beneficiaries of agricultural insurance in Armenia exceeded  the the entire 2020 indicator 
 Friday, August 13 2021 17:58

ArmInfo.The number of beneficiaries of the state agricultural insurance program in Armnia, according to the latest data, has reached 4,300, while for the entire  2020, 1,500 contracts alone were concluded between farmers and  insurance companies. Head of Department of Agricultural Programs  Elaboration, Resource Use and Cooperative Development of the RA  Ministry of Economy Ira Panosyan informed about this.

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Attempt of insurance sector to get out of loss for profit in Q2 was crowned with success
 Thursday, August 12 2021 10:59

ArmInfo. The attempt of the Armenian insurance sector to get out of the loss for profit in Q2 2021 was crowned with success, but the received amount of 94 million drams ($ 189 thousand) was insufficient to zero out the six-month loss. According to the Financial Rating of insurance companies in Armenia, prepared by ArmInfo IC, the total loss of 6 insurance companies for H1 2021 was amounted to 130.6 million drams (over $ 263.4 thousand), with a 2-fold y-o-y drawdown (from plus to minus level), with a quarterly 2.5-fold growth (reaching the plus level).

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Insurance Foundation for Servicemen reported on payments made from  June 2020 to June 2021
 Tuesday, June 29 2021 17:32

ArmInfo. In the period from 2020 to May 31, 2021, the Insurance Foundation for Servicemen made payments in the total amount of 38.5 billion drams, of which 36.9  billion to the main beneficiaries, and 1.5 billion drams - within the  framework of the "Kamurj" program. This is stated in the official  statement of the Foundation.

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