In 2020 insurance sector of Armenia increased payments to state  budget by 43.7%

 Wednesday, January 20 2021 20:58:00
In 2020 insurance sector of Armenia increased payments to state  budget by 43.7%

ArmInfo.The list of 1000 largest taxpayers in Armenia at the end of 2020 included 5 insurance companies out of 6 operating in the country, while a year earlier  there were only 3 in this list.

All-Armenian Fund "Hayastan" will donate $ 1.1 million to the  Military Insurance Fund
 Wednesday, December 9 2020 13:50

ArmInfo.The Hayastan All-Armenian Fund will transfer $ 1.1 million from the amount  transferred within the framework of the fundraising campaign "We and  Our Borders" to the Military Insurance Fund. The press service of the  Hayastan All-Armenian Fund reports.

FinRating ArmInfo: The number of contracts on tourism and cargo  transportation declines in the insurance market
 Friday, October 30 2020 10:36

ArmInfo.According to the results of 9 months of 2020, the corporate component dominates in the premium portfolios of Armenian insurers - 50.9% (AMD 17.2 billion),  while the retail component accounts for 49.1% (AMD 16.6 billion),  against 49.7% and 50, 3% respectively a year earlier.

Financial rating ArmInfo: Armenian insurance sector summed up 9  months of 2020 with a profit of $ 8.2 million.
 Tuesday, October 27 2020 15:19

ArmInfo. The total net profit of insurance companies in Armenia for 9 months of 2020 jumped 3.6 times against the same period last year (against 3 times growth a  year earlier), exceeding 4 billion drams ($ 8.2 million).

The insurance sector of Armenia transferred $ 3.2 million to the  state treasury for taxes in 9 months of 2020
 Saturday, October 17 2020 22:00

ArmInfo.The insurance sector of Armenia in January-September 2020 paid taxes for 1.6 billion drams ($ 3.2 million), which is 33.3% higher than a year ago (against a 25%  decline a year earlier). Of this amount, 1.4 billion drams fell on  direct taxes, with an annual growth of 16.7% (against a 14.3% decline  a year earlier).

Membership in international Green Card system and broad cooperation  within CIS countries -these are the goals of Armenian Motor Insurers`  Bureau
 Wednesday, September 2 2020 19:25

ArmInfo.The Bureau of Auto Insurers of Armenia celebrates its 10th anniversary in September. By that date, the Bureau issued a progress report and presented in  figures the achievements on the main indicators. As ArmInfo was told  in the press service of the Bu Armenian Motor Insurers' Bureau, the  Bureau's long-term plans include membership in the international  Green Card system and broad cooperation within the framework of the  CIS countries. In the medium term, it is planned to liberalize  insurance premiums either with the establishment of maximum and  minimum thresholds, or without the need for them.

Certificates of insurance of e-CMTPL have grown several-fold in  Armenia
 Monday, August 24 2020 16:07

ArmInfo. In Armenia, the share of electronic CMTPL (e- CMTPL) certificates of insurance in the total number of contracts increased 3-fold by August 2020 - up to 13% from 4% a year earlier.

Expert: The agricultural insurance program has shown its  effectiveness, despite the 100% loss ratio
 Friday, August 21 2020 16:51

ArmInfo. The implementation of the agricultural risks insurance program, which practically began at the end of last year, has shown its effectiveness and even to a certain extent exceeded the expectations of insurers. Specialist in  agricultural insurance, Head of the Underwriting Department of "INGO  Armenia" insurance company Levon Kocharyan said  in an interview with  ArmInfo.

FinRating ArmInfo: Agreements on tourism and cargo transportation  segments have significantly declined in the insurance market
 Wednesday, August 5 2020 19:22

ArmInfo.According to the results of the first half of 2020, the corporate component dominates in the premium portfolios of Armenian insurers - 56.2% (13.7 billion drams), while the retail component accounts for 43.8% (10.6 billion drams), against 55.9% and 44, 1% respectively a year earlier.

Over the year, the volume of indemnities of Armenian insurers  decreased by 4.7%
 Tuesday, August 4 2020 14:20

ArmInfo. For the first half of 2020, Armenian insurers reimbursed 11.3 billion drams or $ 23.4 million in different classes (the figures are given from the reports  of IC portfolios according to the standards of the Central Bank of  Armenia). In y-o-y terms, insurance claims declined by 4.7%, against  an increase of 9.8% a year earlier. The same deterioration in the  y-o-y dynamics was demonstrated by insurance premiums - from an 18.7%  growth to a 7.7% decline, amounting to 24.3 billion drams or $ 50.3  million.

Motor Insurers` Bureau of Armenia has raised the maximum threshold  under the European protocol to 200 thousand drams from August 1
 Monday, August 3 2020 13:20

ArmInfo. Motor Insurers' Bureau of Armenia announces an increase from August 1, of the maximum damage threshold under the Euro protocol to 200 thousand AMD from the previous 100 thousand AMD. As the Bureau explains, this new threshold applies to insured events in Yerevan, the agreed declaration for  which is filled out through the ASWA mobile application.

Finrating ArmInfo: Armenia`s insurance sector summed up the first  half of 2020 with a profit of $ 6.9 million.
 Wednesday, July 29 2020 14:12

ArmInfo.The total net profit of insurance companies in Armenia in the first half of 2020 jumped 4.4 times against the same period last year (against 71% growth a year  earlier), exceeding AMD 3.3 billion or $ 6.9 million.

Insurance sector of Armenia in H1 of 2020 increased tax payments to  state treasury by 23.9%
 Monday, July 20 2020 18:59

ArmInfo.  In the H1 of 2020, the  insurance sector of Armenia paid taxes for 1.2 billion drams, which  is 23.9% higher than a year ago. Out of this amount, 339.6 million  drams fell on income tax, with a y-o-y growth of 37.6%.

In Armenia, CMTPL electronic policies are becoming more popular among  car owners
 Friday, July 17 2020 14:52

ArmInfo. In Armenia, e-CMTPL insurance policies (e-CMTPL) are becoming more and more popular among car owners. As a result, the share of e-CMTPL in the total number of CTPL-contracts reached 13% by July 2020 from 4% a year earlier. 

Sales of  Third party Liability (TPL)  electronic policies grow  rapidly in Armenia
 Monday, June 22 2020 13:23

ArmInfo. In Armenia, sales of TPL electronic policies are growing rapidly, the share of which in the total number of TPL agreements by June 2020 increased to 13% from 4% a year earlier. According to the data of the Auto Insurers Bureau of  Armenia, according to the results of January-May 2020, the number of  TPL-agreements concluded in the online mode reached 45504, having  increased 3 times in annual terms.

Garnik Petrosyan: Agricultural insurance in Armenia should develop in  a trilateral format
 Tuesday, June 16 2020 23:16

ArmInfo. The government should reinsure the risks of insurance companies participating in the agricultural insurance program. Garnik Petrosyan, former deputy minister of agriculture, candidate of agricultural sciences,  expressed a similar opinion during an online press conference  organized by the Club of Economic Journalists.

In Armenian insurance market corporate portfolio dominates in  premiums, while retail component dominates in reimbursements
 Friday, May 22 2020 15:33

ArmInfo.According to the results of the Q1 of 2020, the corporate component dominates in the premium insurance portfolios of Armenian insurers - 64.2% (10.2 billion drams), while the retail component accounts for 35.8% (5.7 billion  drams), against 65.8% and 34 2% respectively a year earlier. 

In Armenia, the growth of health insurance indemnities sharply  accelerated
 Thursday, May 21 2020 18:24

ArmInfo.For the first quarter of 2020, Armenian insurers reimbursed 6.4 billion drams or $ 12.7 million for different classes (the figures are given from the reports of UK portfolios according to the standards of the CBA). Annual  growth in insurance claims accelerated from 4.3% to 7.1%.

ArmInfo FinRating: With the introduction of state of emergency,  premiums of Armenian insurance companies decrease 
 Thursday, May 21 2020 14:38

ArmInfo.In the Q1 of 2020, premiums of Armenian insurance companies decrease due to the outbreak of the coronavirus pandemic. According to the Financial Rating of Armenian Insurance Companies prepared by ArmInfo IC, premiums fell by 4.2% y-o-y against 17.6% last year. The decrease in the volume of collected premiums was accompanied by a significant slowdown in the  growth of insurance payments - up to 5.8% compared to last year's  13.3%.  

Insurance indemnities in Armenia will be excluded from the list of taxable funds
 Wednesday, May 6 2020 11:17

ArmInfo. Insurance indemnities in Armenia will be excluded from the list of taxable funds. The RA National Assembly at its plenary meeting on May 6 in the second and final reading amended the Tax Code.

Armenian insurance sector reduced tax payments to the state budget by  15.6% in the first quarter of 2020
 Friday, April 24 2020 11:19

ArmInfo. In the first quarter of 2020, the insurance sector of Armenia reduced tax payments to the state budget by 15.6% to 534.7 million drams, of which 445.2 million  drams were paid out of direct taxes (including income tax and income  tax).



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