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).

The company "ROSGOSSTRAKH ARMENIA" recalls - insurance fraud is a  criminal offense
 Friday, October 19 2018 12:19

ArmInfo. The security service of the insurance company "ROSGOSSTRAKH ARMENIA" is taking active steps to curb and uncover insurance frauds. As the press service of ROSGOSSTRAKH ARMENIA insurance company told ArmInfo, the company has introduced a system to detect signs of fraud, thanks to which a  significant number of attempts are suppressed at the stage of claims  settlement. Employees of the company are subjected to a thorough  analysis of all cases in which there are signs of fraud.

The expert named key barriers to launching agricultural insurance in  Armenia
 Thursday, October 18 2018 13:33

ArmInfo. Up to this day no memorandums with insurance companies about the start of the program agricultural insurance in Armenia have been signed, member of the  Agricultural Alliance and Advisor to the Executive Director of "Nairi  Insurance" IC Artak Martirosyan said, recalling the report previously  published by the Ministry of Agriculture that the sale of insurance  policies of agricultural risks in Armenia may begin at the end of  2018 or early 2019.

Armenian Motor Insurers` Bureau warns car owners
 Thursday, September 27 2018 12:58

ArmInfo. The Armenian Motor Insurers' Bureau warns car owners that from now on, the Road Police will be notified when an accident is registered in accordance with  the European Accident Statement about the side of the accident that  does not have Compulsory Motor Third Party Liability Insurance  (CMTPL) .

Artsvik Minasyan discussed prospects of deepening partnership in export insurance with representatives of Swiss Reinsurance Company Ltd and Malakut-Trade Credit Insurance
 Tuesday, September 4 2018 20:41

ArmInfo. The Minister of  Economic Development and Investments of Armenia Artsvik Minasyan met  on September 4 with Audrius Rosinasi, the chief insurance officer of  the well-known insurance brokerage company "Malakut-Trade Credit  Insurance" Magnus Nigzhet, Swiss Swiss Reinsurance Company Ltd. As  the press service of the ministry told ArmInfo, the parties discussed  prospects for expanding cooperation.

Since March 2019 in Ararat, Armavir and Shirak regions of Armenia, a pilot agro-insurance program has been launched
 Friday, August 31 2018 13:18

ArmInfo. Since March 2019, in the Ararat, Armavir and Shirak regions of Armenia, a pilot agro-insurance program has started, risks of hail and frosts will be insured. This was announced on August 31 by Armenian Minister of Agriculture Artur Khachatryan.

Employers will  be possibly obliged to pay for  medical insurance of  employee
 Tuesday, August 28 2018 12:33

ArmInfo. Employers will possibly pay for  medical insurance of employee in Armenia. This was stated by the Minister of Healthcare of Armenia Arsen Torosyan during the Facebook press conference on ''Azatutyun"/RFL. At the same time, as the minister pointed out, everything will depend on the chosen model of introducing health insurance.

Healthcare Ministry: To develop medical insurance in Armenia,  practice of informal agreements between insurers and medical  institutions should be stopped
 Tuesday, August 14 2018 14:42

ArmInfo.  To develop compulsory  health insurance in Armenia, it is necessary to put an end to  informal agreements between insurers and medical institutions,  Healthcare Minister Arsen Torosyan stated at a meeting with  representatives of local insurance companies.

By July 1, 2018 growth of premiums sharply accelerated on insurance  market of Armenia 
 Wednesday, August 8 2018 19:01

ArmInfo.In the first half of 2018 as compared with the same period of 2017 Armenia's insurance companies registered a 30,6% growth in premiums amid 30,1% growth in  compensation. A year earlier premiums demonstrated only 4,7% growth  amid 30,5% growth of compensaitons. In Q2 alone, the dynamics of  premiums deteriorated to 43,5% decline versus 36,1% growth in Q1 amid  sharp slackening of compensations decline to 7,3% from 22,2% in Q1,  amid 22,8% decline and 10,2% decline in Q2 2017 respectively.  

Step-by-Step introduction of complete medical insurance in Armenia  accelerates corporate insurance
 Wednesday, August 8 2018 13:11

ArmInfo. The share of retail  insurance in the portfolios of premiums of Armenian insurers for the  first half of 2018 was 44.7% (9.8 billion drams), corporate insurance  - 55.3% (12.2 billion drams). At the same time, year-over-year growth  of retail insurance accelerated from 2.7% to 6%, while the  acceleration rate of corporate insurance growth increased sharply  from 8.5% to 58.2%.  Before the introduction of CMTPL in Armenia, as  well as obligatory individual health insurance of state employees,  the share of corporate insurance significantly prevailed over retail  one. 

The total net profit of Armenian Insurance Company in first half of  2018 fell by 65.1% per annum
 Wednesday, August 8 2018 11:07

ArmInfo. The total net profit of Armenian insurance companies in the first half of 2018 fell by 65.1% per annum (against the decline of 51.6% a year earlier), amounting to  443.2 million drams or $ 919 thousand. According to the Ranking of  Armenian insurance companies prepared by ArmInfo News Agency, the  deterioration of the annual dynamics is due to higher growth rates of  insurance claims, rather than premiums.

In Armenia by July 1, 2018 the loss ratio for compulsory motor TPL  insurance and for health insurance increased
 Tuesday, August 7 2018 21:22

ArmInfo. In Armenia, the loss ratio by July 1, 2018 increased in the compulsory motor third party liability insurance and in health insurance, and decreased for KASKO.  According to Ranking of insurance companies of Armenia as of  30.06.2018, prepared by IC ArmInfo, the loss ratio for compulsory  motor third party liability in the average for the market increased  from 55.6% to 67% per annum, for medical insurance - from 41.7% to  42.5%, and for KASKO fell from 78.6% to 70.6%.

Armenia`s insurance sector declined tax payments by 26.7% per annum  in the first half-year
 Wednesday, August 1 2018 18:58

ArmInfo. The insurance sector of Armenia paid taxes for 1.1 billion drams in the first half of 2018, which is lower by 26.7% than a year ago. Of this amount, 995.5  million drams fell on direct taxes (including income tax and income  tax), which is 28.9% higher than last year's figure. According to the  RA State Revenue Committee, in the list of 1000 largest taxpayers in  Armenia, according to the results of the first half of 2018, all 6  insurance companies operating on the market were included.

Pilot programs of agro-insurance to be introduced in a number of  Armenian regions
 Tuesday, July 17 2018 19:37

ArmInfo.  The involvement of small farms in government assistance programs is one of the priorities of the Armenian government. On July 17, RA Minister of  Agriculture Artur Khachatryan received the head of the EU delegation  to Armenia Piotr Switalski.

Export Insurance Agency of Armenia and KfW consider cooperation  opportunities
 Tuesday, July 3 2018 21:09

ArmInfo. The Export Insurance  Agency of Armenia (EIAA) and the German Development Bank KfW are  considering cooperation opportunities. This was announced during the  July 3 meeting of the Executive Director, Chairman of the Directorate  of the Export Insurance Agency of Armenia Armen Shahnazaryan with the  head of the programs of the German Development Bank KfW Monica  Gunther and the senior coordinator of the programs of the KfW Yerevan  office Bella Sedrakyan.

Prime Minister: The system of compulsory funded pension in Armenia  has passed "a point of no return"
 Thursday, June 7 2018 13:05

ArmInfo. The system of compulsory funded pension in Armenia has passed "the point of no  return." The Prime Minister of the Republic of Armenia Nikol Pashinyan stated this on June 7 presenting the program of the Armenian government.

WHO to provide consulting support to Armenia in expanding the health insurance component
 Friday, May 25 2018 18:51

ArmInfo. The World Health  Organization will render consulting assistance to Armenia in  expanding the insurance component in the healthcare sphere, said the  head of the Armenian office of the World Health Organization (WHO)  Egor Zaitsev during a meeting with Health Minister Arsen Torosyan.  According to the press service of the ministry, the parties also  discussed the possibilities of expanding the insurance program.

The head of the Ministry of Health of Armenia doubts that even by 2020 it will be possible to introduce compulsory health insurance
 Thursday, May 17 2018 19:48

ArmInfo. The newly appointed Minister of Health of Armenia Arsen Torosyan doubts that even by 2020 he will be able to introduce the mandatory health insurance (CHI) system in Armenia. The minister said on May 17 answering the question ArmInfo.

In the first quarter of 2018, insurance claims for OSAGO slowed the annual growth, and for health insurance increased by several times
 Monday, May 14 2018 16:35

ArmInfo. The Armenian insurers in the first quarter of 2018 reimbursed 5.7 billion drams or $ 11.9 million for various classes (figures are presented from the reports of the portfolios of the CB according to the standards of the Central Bank of Armenia).

In Armenia, insurance premiums went up on April 1, 2018, and payments slowed down the pace of ascent
 Monday, May 14 2018 15:12

ArmInfo. The premiums of Armenian  insurance companies increased by 47.9% per annum in the 1st quarter  of 2018, with an increase in indemnities of 26%, while a year earlier  premiums were in a 1.1% decline, and payments showed a higher growth  - 32.6% %.

In Armenia, phased introduction of CHI brought retail insurance to growth and sharply accelerated the ascent of corporate
 Monday, May 14 2018 13:58

ArmInfo. The share of retail  insurance in premiums of Armenian insurers in the first quarter of  2018 amounted to 36.8% (5.2 billion AMD), corporate - 63.2% (8.9  billion).



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200 million

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