Growth of vehicles with CMTPL insurance resumes in Armenia and an  upward trend in fees has been outlined

 Friday, September 24 2021 16:35:00
Growth of vehicles with CMTPL insurance resumes in Armenia and an  upward trend in fees has been outlined

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.

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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The number of terminated CMTPL contracts continues to grow rapidly in  Armenia
 Monday, June 14 2021 11:31

ArmInfo.In Armenia, the number of terminated CMTPL contracts continues to grow rapidly - 3.9 -fold in January-May 2021 compared to the same period a year ago, amounting to 19,500. And almost the same - the volume of returned or refundable  premiums increased by 3 times - up to 236.1 million drams ($ 453.4  thousand). This is evidenced by the data of the Bureau of Motor  Insurers of Armenia, according to which, in the reporting period, the  number of vehicles with MTPL policy decreased by 2.3%.

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ArmInfo Financial rating: Health insurance fees stagnate, and travel  insurance is in the deep red
 Thursday, April 29 2021 19:33

ArmInfo. In Armenia, health insurance fees approached stagnation in the first quarter of 2021, narrowing the annual growth rate from 8.2% to 1.1%, to a volume of  7.4 billion drams ($13.8 million).

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Rosgosstrakh continues to lead the list of large taxpayers among  insurance companies in Armenia
 Monday, April 19 2021 16:58

ArmInfo. According to the results of the first quarter of 2021, 5 insurance companies out of 6 operating in the country were included in the list of 1000 large  taxpayers in Armenia, as in the previous year.

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In Armenia, the number of terminated CMPTL contracts jumped 2.5 times  YoY in the first quarter of 2021 
 Wednesday, April 14 2021 16:18

ArmInfo. In Armenia, the growth of CMPTL E-policy sales continues to  slow down in 2021 , to 66.1% in the first quarter from 3.2 times in  the same period in 2020. According to the Armenian Motor Insurers '  Bureau, the number of CMPTL contracts concluded online reached 41,493  in the first quarter of 2021. Their share in the total number of  CMPTL contracts increased in the first quarter of 2021 to 19% from  11% a year earlier.

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Agricultural insurance gains high growth rates in Armenia in 2021
 Monday, March 22 2021 19:27

ArmInfo. In February 2021, 1,800 agreements between farmers and insurance companies were concluded in Armenia within the framework of the agricultural  insurance program, while for the whole of 2020 their number was  1,500, Head of the Department for Development of Agricultural  Programs of the RA Ministry of Economy Ira Panosyan said.

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FinRating ArmInfo: Reimbursements for insurance of freight going  abroad, medical insurance and compulsory motor third party liability  insurance have gone into decline
 Wednesday, March 3 2021 14:04

ArmInfo. For 2020, Armenian insurers reimbursed 23.2 billion drams or $ 44.4 million in different classes (figures are given from the reports of IC portfolios  according to the standards of the Central Bank of Armenia).

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FinRating ArmInfo: Fees on travel insurance dropped by 74% in 2020
 Saturday, February 27 2021 14:49

ArmInfo.At the end of 2020, premiums in the insurance market of Armenia turned their annual dynamics from 19.1% growth to 2.6% decline, which was also observed  along the trend of indemnities - from 17% growth to 13.2% decline. 

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FinRating ArmInfo: In a pandemic, travelers lost travel, and travel  insurance lost contracts 
 Friday, February 26 2021 19:07

ArmInfo. In 2020, the shares of retail and corporate components in premium portfolios of Armenian insurers almost equalized - 50.3% (22.4 billion drams) and 49.7%  (22.1 billion drams), against 52.8% and 47.2%, respectively. earlier.  According to the Financial Rating of Insurance Companies in Armenia,  prepared by ArmInfo IC, the retail insurance market capacity dropped  by 13.6% from 22.1% growth a year earlier, along with which the  dynamics of corporate insurance worsened - from 17.3% to 4.5%  decline.

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Finrating ArmInfo: Results of the first year of agricultural  insurance have been summed up
 Friday, February 12 2021 11:01

ArmInfo.Armenian insurance companies registered the first results of agricultural risks insurance - for 2021. According to the quarterly Financial Rating of Insurance  Companies of Armenia, prepared by the Financial Analysis Service of  ArmInfo IC, in 2020 the country's insurers participating in the  agricultural insurance program collected premiums totaling 130,946.0  thousand drams.  

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

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.

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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.

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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.

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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).

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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).

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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.

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