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 coefficient of unprofitability in the insurance system of Armenia increased by OSAGO by 1 April and decreased by VMI
 Monday, May 14 2018 13:57

ArmInfo. In Armenia, the ratio of  unprofitability by April 1, 2018 increased by OSAGO, and by CASCO,  and by voluntary medical insurance - decreased. According to Ranking  of insurance companies of Armenia prepared by NA ArmInfo, as of  31.03.2018, the loss ratio for OSAGO insurance in the average on the  market increased from 56% to 62.9% per annum, and the decrease was  recorded by CASCO - from 77% to 66.4 % and on medical insurance -  from 42,7% to 25%.

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Bureau of Motor Insurers of RA: The loss ratio for motor third party liability insurance rose in 2017 from 55.3% to 66%
 Friday, March 30 2018 19:10

ArmInfo. According to the company's data, the loss ratio for compulsory motor third party liability insurance increased by almost 11 percentage points in 2017, making about 66%.

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OSAGO online purchases service policies since launch of this regime to this day have benefited so far only 2-3% of car owners
 Friday, March 30 2018 18:33

ArmInfo. For 3 months already at the initiative of the Bureau of Motor Insurers of Armenia, on-line purchases of OSAGO-policies are functioning. But this service has so far benefited only 2-3% of car owners. Answering the question of ArmInfo during the press conference on March 30 said the executive director of the Bureau of Motor Insurers of Armenia Vahan Avetisyan. "This is an extremely unsatisfactory indicator," he stressed.

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Avetisyan: The number of complaints filed with the Finance Ombudsman office for OSAGO will gradually decrease
 Friday, March 30 2018 17:17

ArmInfo. The number of complaints filed with the Finance Ombudsman office for OSAGO will gradually decrease, believes Vahan Avetisyan, executive director of the Armenian Auto Insurers' Bureau. He said this on March 30 at a press conference.

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Bureau of Motor Insurers of Armenia by the end of 2018 forecasts the loss ratio for OSAGO at the level of about 70%
 Friday, March 30 2018 15:45

ArmInfo. The loss ratio for  OSAGO by the end of 2018 will be about 70%. This forecast was  presented by the executive director of the Armenian Insurers' Bureau  Vahan Avetisyan in a conversation with ArmInfo correspondent on March  30.

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EIAA`s insurance portfolio reached 4.534 billion AMD by 2018
 Friday, March 23 2018 15:32

ArmInfo. Following the results of 2017, the insurance portfolio of SJSC "Export Insurance Agency of Armenia" totaled 4.534 billion drams, while the final figure was planned at 3 billion drams (in 2016 the figure reached 2.185 billion drams, and in 2015 it was 0, 39 billion).  Armen Shahnazaryan, Executive Director of the EIAA, told a press conference on March 22 when answering the question of ArmInfo. Previously, the government of Armenia in its program of activities for 2017-2022. according to the results of 2018, it fixed expectations of growth of insured transactions to almost 4.5 billion drams.

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"Rosgosstrakh Armenia" keeps leadership among insurance companies in large taxpayers list
 Friday, February 9 2018 20:42

ArmInfo. The insurance sector of Armenia paid 2.652 billion AMD in taxes in 2017, which is 26.8% more than a year ago. Of this amount, over 91.4% or 2.425 billion AMD was paid under direct taxes (including income tax and income tax). According to the RA State Revenue Committee, in the list of 1000 largest taxpayers of Armenia, in the result of 2017, all 6 insurance companies operating on the market were included.

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The volume of health insurance premiums in Armenia increased by 28.1% in 2017
 Friday, February 9 2018 18:15

ArmInfo. The volume of premiums for health insurance in Armenia increased by 28.1% in 2010 to 7.1 billion drams ($ 14.7 million), and compensation - by 17.8% to 4.03 billion drams ($ 8.3 million). According to the Analytical Ranking of Insurance Companies of Armenia prepared by IC ArmInfo, compared with the previous year, the growth rates of the medical insurance market have significantly increased due to the introduction of the first phase of compulsory medical insurance (OMC) for civil servants since October 2017.

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Bureau of Auto Insurers: Client`s right under the contract of OSAGO - in case of illegal distribution / use of his personal data, notify law enforcement authorities
 Friday, February 9 2018 14:47

ArmInfo. Lately complaints have  been received from consumers and mass media in the Armenian Auto  Insurers' Bureau that some insurance agents call and offer to  conclude an OSAGO(Third party liability insurance) contract with the  insurance company with which these consumers did not have and do not  have an OSAGO contract. According to  the press service of the Bureau  of Motor Insurers of Armenia.

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In Armenia, the capacity of the retail insurance market accelerated the upward trend for 2017 from 0.2% to 4.5%, while the corporate market slowed from 12.1% to 8.5%
 Thursday, February 8 2018 17:12

ArmInfo. The share of retail  insurance in the portfolios of premiums of Armenian insurers amounted  to 56.1% (19.6 billion AMD), corporate - 43.9% (15.3 billion) in  2017. At the same time, the capacity of the retail insurance market  accelerated the upward trend to 4.5% from 0.2% in 2016, and, at the  same time, corporate insurance growth slowed to 8.5% from 12.1% in  2016.  Before the introduction of OSAGO in Armenia, as well as  compulsory individual health insurance of state employees, the share  of corporate insurance significantly prevailed over retail.

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The upward trend of insurance claims for "OSAGO" sharply accelerated, and for CASCO significantly slowed down
 Thursday, February 8 2018 13:48

ArmInfo. Armenian insurance companies reimbursed 17.8 billion drams or $ 36.7 million for various classes in 2017 (figures are presented from reports of SC portfolios according to CBA standards).

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The total net profit of Armenian insurance companies for 2017 decreased   by 58% forming $ 3.3 million.
 Thursday, February 8 2018 09:25

ArmInfo. The total net profit of insurance companies of Armenia in 2017 dropped by 58% (against growth by 34% in 2016), making 1.6 billion drams or $ 3.3 million.  According to the Ranking of Armenian insurance companies prepared by IC ArmInfo, the deterioration in the annual dynamics is due to a sharp change in the dynamics of insurance claims from 13.7% decline to 30.4% growth with a low rising rate of insurance premiums - 5.7% against 6.8% a year earlier.

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Armenian PM discussed issues of introduction of agricultural insurance in the country with international experts
 Wednesday, February 7 2018 16:57

ArmInfo. Prime Minister of Armenia Karen Karapetyan on February 7 deceived delegation led by Mathias Kiesler, Ambassador of the Federal Republic of Germany to the Republic of Armenia, composed of representatives of the German Development Bank (KfW), MF Strategy consultants, MicroInsurance Center and AgroConsulting and the reinsurance company Swiss Re and Agroinsurance International.

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At the insurance market of Armenia, growth rates of premiums continue to give way to a significant increase in payments
 Wednesday, February 7 2018 14:52

ArmInfo. The premiums of  Armenian insurance companies for the year 2017 slowed the growth rate  to 5.7% from 6.8% in 2016, against which the refinancing improved the  dynamics with the exit from the 13.7% decline by 30.4% growth. By  January 1, 2018, the total volume of insurance premiums amounted to  34.1 billion AMD, and the amount of insurance indemnities - 18.6  billion AMD (figures are given from the reports of the IC by IFRS  standards).

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Armenia will start insurance of agricultural risks from 2019
 Friday, February 2 2018 19:13

ArmInfo. In Armenia, the  visit of international experts selected by the KfW bank is expected,  with which it is planned to develop further steps to insure  agriculture and fix specific dates. This was stated by the Minister  of Agriculture of Armenia Ignaty Arakelyan on February 2 during a  meeting with representatives of insurance companies.

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Nairi Insurance IC (Insurance Company) urges media entities not to associate with it and its founders the situation at the Bagratashen customs office and not to attribute the actions that do not correspond to reality
 Thursday, January 11 2018 21:00

ArmInfo. The Insurance Company   of  Nairi Insurance urges the media not to associate with it and its  founder the situation at Bagratashen customs point, and not to  ascribe to it any actions that do not correspond to reality. This is  the context of the official response of  Nairi Insurance IC to the  request of ArmInfo regarding the reliability of the information   rumored about the monopolistic implementation of auto insurance  throughTop-Spin LLC office located right at at the Bagratashen  customs station.

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