In Armenian insurance market corporate portfolio dominates in  premiums, while retail component dominates in reimbursements

 Friday, May 22 2020 15:33:00
In Armenian insurance market corporate portfolio dominates in  premiums, while retail component dominates in reimbursements

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%.

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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%.  

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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.

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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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Third party liability insurance contracts concluded in online mode  continue to grow rapidly
 Monday, March 30 2020 13:13

ArmInfo.In Armenia, third party liability insurance contracts concluded online are continuing to grow rapidly.

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523 contracts signed in Armenia within the framework of a pilot  program for agricultural risk insurance
 Tuesday, March 24 2020 19:03

ArmInfo. As of March 20, 2020, in Armenia, as part of the pilot program for agricultural risk insurance, 523 insurance contracts were concluded in Armenia. The  press service of the Ministry of Economy of the Republic of Armenia  reported this on March 24.

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IC "INGO Armenia" switches to emergency mode of remote servicing
 Wednesday, March 18 2020 18:01

ArmInfo. The INGO Armenia insurance company decided to switch to an emergency mode of remote servicing, based on social responsibility to customers and taking  into account the government decision to introduce an emergency. This  was reported by the press service of INGO Armenia IC, while  simultaneously notifying that all employees of the insurance company  will work from home, ensuring uninterrupted workflow.

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Armenian Motor Insurers` Bureau through ASWA automated the  registration of insurance claims under the Euro Protocol
 Tuesday, February 18 2020 17:09

ArmInfo. Armenian Motor Insurers' Bureau  continues to automate CTPL processes, this time introducing the ASWA mobile application for processing insured events  using the Euro protocol. This was reported by the press service of  the Armenian Motor Insurers' Bureau.

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``ArmInfo`` issued the 60th anniversary insurance informational and  analytical bulletin
 Tuesday, February 18 2020 14:10

ArmInfo. "ArmInfo" Information Company issued the 60th anniversary quarterly information and analytical bulletin "Ranking of Armenian Insurance Companies".

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RA Ministry of Economy: Agricultural Risk Insurance Program to be  expanded in Armenia
 Monday, February 17 2020 15:24

ArmInfo. Agricultural risk insurance program in Armenia will be expanded. This was announced at a press conference in Yerevan on February 17 by head of the   Department of Agricultural Programs Elaboration, Resource Use and  Cooperative Development of the RA Ministry of Economy Ira Panosyan.

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Arsen Torosyan to discuss in the Republic of Korea principles of  introducing health insurance 
 Monday, February 17 2020 12:00

ArmInfo.A delegation led by the RA Minister of Healthcare Arsen Torosyan is on a working visit to the Republic of Korea to participate in the event "Knowledge exchange between Armenia, Georgia and Korea on Health Insurance".

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M. Abrahamyan: Agricultural risks insurance will definitely have  positive impact on the development of agricultural sector and  agricultural lending
 Saturday, February 15 2020 03:28

ArmInfo. Agricultural risk insurance will definitely have a positive impact on the development of the agricultural sector of Armenia and on agricultural lending.  This opinion was expressed on February 14 by Chairman of the Union of  Banks of Armenia (UBA), Chairman of the IDBank Board Mher Abrahamyan,  answering a question from ArmInfo.

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Growth in CMTPL and health insurance reimbursements keeps slowing  down 
 Wednesday, February 12 2020 19:12

ArmInfo. In 2019, the Armenian insurers reimbursed over 25 billion drams or $ 52.1 million for various classes (the figures are given from the reports of insurance  companies portfolios according to the standards of the Central Bank  of the Republic of Armenia).

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Growth of premiums for 2019 accelerated in Armenia`s insurance  market, being ahead of the growth in payments
 Wednesday, February 12 2020 17:23

ArmInfo.In the insurance market of Armenia, the growth of premiums for 2019 accelerated, being ahead of the growth of payments - 19.1% versus 17%, while in 2018 the growth of premiums was inferior to the growth of payments - 17.6%  versus 25.3%.

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The dominant retail component grows in the portfolios of premiums and  indemnities of Armenian insurers
 Monday, February 10 2020 18:59

ArmInfo. At the end of 2019, the retail component dominates in the portfolio of premiums of Armenian insurers - 52.8% (26 billion drams), while the corporate  share accounts for 47.2% (23.2 billion drams), versus 51.8% and  48.2%, respectively a year earlier.

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Armenian Prime Minister does not have a clear position on the project  of introducing Institute of Health Insurance
 Wednesday, January 22 2020 18:11

ArmInfo. Armenian Prime Minister Nikol Pashinyan does not have a clear position on the project of introducing the Institute of Health Insurance. He stated this on January 22 in the country's parliament, answering the  question of MP Arkady Khachatryan.

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The Ministry of Finance of the Republic of Armenia discussed the  concept of universal health insurance proposed by the Ministry of  Health
 Thursday, December 12 2019 20:01

ArmInfo. On December 12, a regular meeting of the expanded Public Council on improving income policy was held at the Ministry of Finance of the Republic of  Armenia, during which the concept of introducing universal health  insurance proposed by the Ministry of Health was discussed.

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Minister of Healthcare calls on working citizens to refrain from the  approaches of "wild capitalism" and not scrimp on the treatment of  fellow citizens
 Wednesday, November 27 2019 18:06

ArmInfo.The Minister of  Healthcare of Armenia Arsen Torosyan, the initiator of the "health tax" today decided to talk again with his, as he put it in,  "followers", so that he could "direct discussions on the  implementation of Universal Health Coverage (UHC) in the right  direction".

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Armenia`s Universal Health Coverage takes from the rich and gives to  the poor: initiator of "health tax" clarifies
 Tuesday, November 26 2019 18:33

ArmInfo. The healthcare sector of Armenia needs additional resources in the amount of 150 billion drams and there is no alternative to the introduction of a new type  of payroll tax. This was stated by the initiator of the "health tax",  the Minister of Healthcare of Armenia Arsen Torosyan during a live  broadcast on his Facebook page.

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Y-o-y growth in insurance claims for CMTPL and medical insurance  slows down
 Friday, November 15 2019 18:13

ArmInfo. For 9 months of 2019,  the Armenian insurers reimbursed 18.2 billion drams or $ 38.2 million  in various classes (the figures are given from the reports of  Insurance Companies portfolios according to the standards of the  Central Bank of the Republic of Armenia). In y-o-y terms,  reimbursements of insurers increased by 9.9%, against growth by 37.9%  a year earlier.

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