The insurance sector of Armenia transferred $ 3.2 million to the  state treasury for taxes in 9 months of 2020

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

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).

Introduction of mandatory component accelerates growth of fees and  payments for health insurance
 Tuesday, February 12 2019 14:47

ArmInfo. In 2018, the Armenian  insurers reimbursed 22.8 billion drams or $ 47.1 million in different  classes (figures are from IC portfolio portfolios according to the  standards of the Central Bank of Armenia). During the reporting year,  reimbursement of insurers increased by 28.4%, against 24.9% growth  for 2017. At the same time, the insurance premiums of the Armenian  insurance companies recorded an y-o-y growth of 17.4% - up to 41.02  billion drams or $ 84.8 million, against 6.2% growth for 2017.

Growth of premiums for 2018 has accelerated in insurance market of  Armenia, but still yields to  increase in payments
 Tuesday, February 12 2019 12:44

ArmInfo. In the insurance market of Armenia, the growth of premiums for 2018 has accelerated, but so far it is inferior to the growth of payments - 17.6% against  25.3%, the same trend was observed in 2017 with more significant gap  - 5.7% against 30.4%.

Financial rating  of ArmInfo: Total net profit of insurance companies  of Armenia continues to sink
 Monday, February 11 2019 18:42

ArmInfo. The total net profit  of insurance companies of Armenia for 2018 declined by 67.6% (against  a decline of 58% in 2017), making 226.3 million drams or $ 0.5  million the growth of insurance claims from 24.9% to 28.4%, with a  moderate rise in insurance premiums - by 17.4% against 6.2% a year  earlier. On an annualized basis (2018 by 2017), a decrease in profits  was observed in five insurance companies, two of which reduced the  positive indicator by 6.5-54%, and three were at a loss, and one of  them moved down from the positive level, and only Nairi Insurance has  managed to increase profits.

ArmInfo: In Armenia, the loss ratio for medical insurance increased  in 2018 to 67%
 Monday, February 11 2019 15:15

ArmInfo. In Armenia, with the  process of phased introduction of compulsory health insurance the  loss ratio in the general class of medical insurance increased in  2018 on average in the market to 67%, against 55.8% in 2017.

Starting from March 2019, a pilot program of agricultural risks  insurance will be launched in 5 regions of Armenia 
 Thursday, January 31 2019 15:36

ArmInfo.From March 2019, a pilot program of agricultural risks insurance will be launched in 5 regions of Armenia. Answering the question of ArmInfo, Armenian Deputy Minister of Agriculture Gegham Gevorgyan said this on January 31 after a  government meeting.

Insurance company "Nairi Insurance" continues to work in normal mode
 Thursday, January 24 2019 17:09

ArmInfo.The report of the State Revenue Committee of Armenia published on January 21 may be misinterpreted and may cause some concerns from customers, partners  and the general public, in connection with which the insurance  company Nairi Insurance officially announces the continuation of its  activities in normal mode.

Monthly insurance payments to Universal Health Insurance Fund,  Armenia, may be 2-3% of salary of working citizens
 Wednesday, January 23 2019 14:36

ArmInfo. From 2021, a phased introduction of the compulsory health insurance system will begin in Armenia. On this, answering the question of ArmInfo, on January 23,  Healthcare Minister Arsen Torosyan said at a press conference. At the  same time, Torosyan abstained from indicating the period when all  citizens of Armenia will become the beneficiaries of a comprehensive,  as the Minister called, medical insurance system.

Armenian Motor Insurers` Bureau: The loss ratio for MTPL increased in  2018 from 65% to 72.5%
 Saturday, January 19 2019 16:27

ArmInfo.The MTPL unprofitability ratio increased in 2018 from 65% to 72.5%. This is  evidenced by the data of the Armenian Motor Insurers' Bureau.   According to the Bureau, as of January 1, 2019, there are 508297  vehicles in Armenia with MTPL contract, with a y-o-y increase of  10459 units or 2.1%, against an increase of a year ago by 29710 units  or 6.4%. Of the total number of vehicles with MTPL-contract, 25.23%  covers Rosgosstrakh Armenia, 23.44% - Nairi Insurance, 22.34% - INGO  Armenia, 12.29% - Sil Insurance, 8.53% - Armenia Insurance and 8.17%  - RESO.

Expert: In the CTP system, modernization of approaches with  subsequent liberalization of the market will not lead to problems and  a global increase in tariffs
 Friday, January 18 2019 20:29

ArmInfo. In the OSAGO system, modernization of approaches with the subsequent liberalization of the market will not lead to problems and a global increase in tariffs.   On January 18, Tigran Keyan, Chairman of the Association of Motor  Insurers of Armenia, member of the Council of the Bureau of Motor  Insurers of Armenia, said during a press conference."Global problems  should not be expected. 

According to the results of the EIAA in 2018, a significant increase  in indicators was registered
 Thursday, January 10 2019 10:33

ArmInfo.According to the results of the activities of the Export Insurance Agency of Armenia (EIAA), in 2018 a significant increase in indicators was registered.  This was reported by the press service of the Agency.

Armenian insurance sector reduced tax payments by 23.8% y-o-y within  9 months of 2018 
 Thursday, December 20 2018 17:47

ArmInfo. In  January-September 2018, the insurance sector of Armenia paid taxes of  1.6 billion drams or $ 3.4 million, which is 23.8% less than a year  ago. Of this amount, 1.4 billion drams are direct taxes (including  income tax and tax on profit), with a y-o-y decline of 26.3%.  According to the State Revenue Committee of the Republic of Armenia,  according to the results of 9 months of 2018, all 6 insurance  companies operating in the Armenian market were included on the list  of the top 1000 taxpayers of Armenia.

Military personnel insurance fund in Armenia summed up the results of  the year: the volume of paid compensation amounted to 771 million  drams
 Friday, December 14 2018 17:51

ArmInfo.On December 13, the regular meeting of the Board of Trustees of the Military Insurance Fund was held at the Armenian Defense Ministry, at which a report on  the payments made was presented.

360 million AMD will be allocated from budget for implementation of  pilot program on agro insurance in 2019
 Thursday, November 29 2018 16:00

ArmInfo.Starting from February-March 2019 in the Ararat and Armavir regions of Armenia, a  pilot program on agro-insurance will start, which will cost the state  treasury 360 million drams. The possibility of testing the program in  the Shirak region of the republic is also discussed. On November 29,  answering the question of ArmInfo, this was reported by the Acting  Minister of Agriculture of Armenia Gegham Gevorgyan.

New Year`s Eve insurance product from VTB Bank (Armenia) and RESO  Insurance Company - "Safe Rest"
 Monday, November 19 2018 17:52

ArmInfo.VTB Bank (Armenia) together with the insurance company RESO, on the eve of the New Year holidays, has developed a new insurance product, Safe Rest, for  travel lovers.

ArmInfo released the 55th jubilee analytical bulletin covering  Armenian insurance market
 Thursday, November 8 2018 16:44

ArmInfo. ArmInfo Information company has released the anniversary 55th quarterly analytical bulletin "Financial Rating of Armenian Insurance Companies". "We started  analyzing the insurance market of Armenia 14 years ago, realizing  well that the market economy is not able to develop without an  important information infrastructure element and at the same time,  using the example of the banking system, we understood well that  along with development, the number of players will decrease", the  head of the Financial Analytics Department at ArmInfo, Karina  Melikyan noted.

RA Ministry of Healthnare: In Armenia system of compulsory medical  insurance can be implemented within 3-4 years.
 Wednesday, November 7 2018 13:36

ArmInfo. The system of compulsory medical insurance in Armenia can be implemented within 3-4 years. This was announced on November 7 at the parliamentary hearings  on the draft state budget of the country for 2019, Acting Healthcare  Minister Arsen Torosyan said.

NA President: Now is the time to start introducing the system of  compulsory medical insurance in Armenia
 Wednesday, November 7 2018 12:40

ArmInfo.''Now is the time to start introducing the system of compulsory medical insurance in Armenia''. On November 7 at the parliamentary hearings on the draft  state budget of the country for 2019, of the President National  Assembly of Armenia Ara Babloyan stated.

Growth of health insurance claims has accelerated sharply amid phased  introduction of compulsory health insurance 
 Friday, November 2 2018 12:13

ArmInfo.. For 9 months of 2018, Armenian insurers reimbursed more than 16.5 billion AMD or $ 34.2 million in different classes (figures are brought from the reports of  Insurance Companies portfolios according to the standards of the  Central Bank of Armenia).

Reimbursement grows faster in premiums in Armenian insurance market
 Thursday, November 1 2018 17:32

ArmInfo. The premiums of Armenian insurance companies for the third quarter of 2018 improved the dynamics with a recovery of 5.8% from the 43.5% decline (against  1.8% growth in the third quarter of 2017), with a similar picture of  refunds - from a 7.3% decline by 26.7% growth (against 11.5% growth  in the third quarter of 2017).

Share of retail insurance is almost equal to the corporate one in  premiums portfolio of the Armenia`s insurance companies 
 Thursday, November 1 2018 12:50

ArmInfo. The share of retail insurance in the portfolios of premiums of Armenian insurers in the first 9 months of 2018 was 49.7% (15.2 billion AMD), corporate  insurance share was 50.3% (15.4 billion AMD), versus 57.1% and 42.9%   respectively a year earlier.



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