Armenian insurance sector profit decreased by 33% in 2023
 Thursday, February 15 2024, 17:53

ArmInfo. The net profit of the insurance sector of Armenia dropped by 33% in 2023, after a 4.5-fold  increase in 2022. "This resulted from higher reimbursement growth of 30% with a modest 17% increase in premiums.

"LIGA Insurance" tops list of largest taxpayers in Armenia among  insurance companies 
 Friday, January 26 2024, 15:56

ArmInfo."LIGA Insurance" topped the list of the largest taxpayers in Armenia among insurance  companies. According to data from the State Revenue Committee, the LIGA Insurance insurance company rose to the 384th place (the 554th in 2022), paying AMD 815.1mln the state budget, of which AMD 682.6mln  as direct taxes.

Compensations suppress premiums in Armenian insurance market
 Wednesday, November 15 2023, 16:48

ArmInfo. In the Armenian insurance market, compensation growth continues to accelerate, while  premium growth has slowed, as a result of which market profits have begun to decline, according to the data of the anniversary issue No.75 of the Financial Rating of Insurance Companies of Armenia as of  September 30, 2023, prepared by ArmInfo IC based on published reports  and portfolio data requested from the insurance companies.

In Armenia`s insurance market, loss ratio for CMPTL began to grow  slowly
 Monday, September 18 2023, 16:22

ArmInfo.In the insurance market of Armenia, the loss ratio for Compulsory Motor Third Party  Liability (CMPTL) is slowly starting to increase year-on- year, from 63% to 65% by September 1, 2023, noticeably higher than the pre-Covid 69% in Jan-August 2019.

In Armenia`s insurance marke, CMPTL loss ratio has been at level of  64% for year already
 Monday, September 4 2023, 16:59

ArmInfo.In the Armenian insurance market, the CMPTL loss ratio has been at the level of 64%  for a year now, which is much lower than 79% in Jan-July 2021 and the  pre-Covid 72% in the same period of 2019.

Loss ratio of MTPL insurance 64% in Armenia in first half of 2023
 Friday, July 14 2023, 16:58

ArmInfo. The loss ratio of motor third-party liability insurance (MTPL insurance) was 64% in the first half of 2023 against 65% in the first half of 2022, and 81% in 2021and 73% in 2019. This was accompanied by a liberalization of MTPL prices and slightly lower rates of a 2-digit annual increase in the number of MTPL insurance contracts from 19.7% down to 16.3%, and a slower % increase in insurance premiums, from 21.4% down to 6.5%. A 9.8% increase in insurance indemnities (up to $10.7mln) was recorded against an 8.7% decrease.

CMTPL E-polices sales stalled pending more visible discounts as part  of tariff liberalization 
 Wednesday, May 17 2023, 19:36

ArmInfo. The loss ratio for CMPTL in Armenia in January-April 2023 decreased to 62% from 67% in January-April 2022, being much lower than the pre-Covid 73% in January- April 2019.

Armenian insurance sector reduces tax payments by 27% in Q1 2023
 Wednesday, April 26 2023, 18:37

ArmInfo.The list of 1000 largest taxpayers in Armenia in Q1 2023 included 3 insurance  companies out of 6 operating ones. According to the data of the State  Revenue Committee, the list includes Liga Insurance,  Nairi  Insurance, and INGO Armenia.

MTPL insurance policy sales markedly down before tariff  liberalization  
 Saturday, April 15 2023, 14:35

ArmInfo. The loss ratio of motor third-party liability insurance (MTPL insurance) was 62% in the first  quarter of 2023 against 69% in the first quarter of 2022, and 74% in the first quarter of 2019. The number of MTPL insurance contracts showed an increase from 15.9% to 17.8%, with a 12.8% increase in insurance premiums ($16.3mln) against 17.5% and a 6.7% increase in insurance indemnities (up to $10.7mln) against a 13.5% decrease. 

Loss ratio in CMPTL market decreased from 79% to 66% in 2022 
 Monday, January 23 2023, 16:24

ArmInfo.The CMPTL loss ratio in Armenia decreased from 79% to 66% in 2022, being even lower than the pre-Covid 74% in 2019. This was due to an increase in the number  of concluded contracts by 16.1% year on year, as a result of which  insurance premiums rose by 15.6% to $67.3 million, while  claims  simultaneously decreased by 4.6% to $39.8 million, according to the  data of  Armenian Motor Insurers'  Bureau .

FinRating ArmInfo: the corporate component in the premium portfolios  of Armenian insurers is growing faster than the retail one
 Saturday, October 29 2022, 19:21

ArmInfo. Following the results of 9 months of 2022, the share of the corporate component in the premium portfolios of Armenian insurers, began to prevail over the  retail component even more - 53.8% (25.6 billion drams) against 46.2%  (21.97 billion drams) , while the gap was smaller in a similar  situation a year ago - 51.8% and 48.2%, respectively. According to  the Financial Rating of Insurance Companies of Armenia as of  September 30, 2022, prepared by ArmInfo, the capacity of the  corporate insurance market accelerated growth more noticeably, from  14% to 30.5%, than the capacity of the retail insurance market, from  10.2% to 20.1%.

FinRating ArmInfo: The corporate component dominates in the premium  portfolios of Armenian insurers, while the retail component dominates  in compensations
 Saturday, August 20 2022, 13:57

ArmInfo. The share of the corporate component continues to prevail over the retail one in the premium portfolios of Armenian insurers in H1 2022, - 58.2% (19.7  billion drams) against 41.8% (14.1 billion drams), which is very  close to the data of a year ago - 57% against 43% respectively.  

Finrating ArmInfo: Armenia`s insurance sector summed up H1 2022 with  a profit of $5.6 million
 Thursday, August 18 2022, 12:30

ArmInfo.The total net profit of insurance companies (ICs) in Armenia for H1 2022 reached 2.3 billion drams ($5.6 million), with a y-o-y  19-multifold increase, with a  quarterly decline of 13.1%, against a y-o-y decline of 2-fold and a  quarterly increase of 2.5-fold in comparable periods in 2021. 

CMTPLI loss rate going down in Armenia 
 Monday, July 18 2022, 12:49

ArmInfo.The loss rate for compulsory motor third-party liability insurance (CMTPLI) is going down - 65% in the first half of 2022 against 81% in the first half of  2021, and 73% in 2019. The cause is a 19.7% year-on-year increase in  the number of insurance contracts, which caused a 21.4% increase in  insurance premiums, up to $29mln, with a simultaneous 8.7% decline in  insurance indemnities, down to $18.7mln, the Armenian Motor Insurers'   Bureau reports.  

CMTPL loss ratio in Armenia decreased from 86% in 2021 to 67% by May  2022
 Monday, May 16 2022, 19:31

ArmInfo.In Armenia, the number of vehicles with a CMPTL policy increased in January-April 2022 more significantly than in the pre-Covid comparable period, which allowed the volume of insurance premiums to exceed the upward trend of two  years ago.

FinRating ArmInfo: Travel insurance has grown in terms of the number  of contracts concluded
 Wednesday, May 11 2022, 15:19

ArmInfo. The share of the corporate component in the premium portfolios of Armenian insurers in Q1 2022 exceeds the retail component - 65.5% (13.3 billion drams) and 34.5% (7 billion drams), almost repeating the figures of a year ago - 64.9%  and 35 .1% respectively.  

Finrating ArmInfo: Armenia`s insurance sector summed up Q1 2022 with  profit of $2.5 million
 Wednesday, May 4 2022, 15:50

ArmInfo. The total profit of insurance companies (ICs) of Armenia for Q1 2022 exceeded 1.2 billion drams (over $2.5 million), with a 4-4.4-fold climb in terms of y-o-y  and quarterly  (against a 2.2-2.5-fold decline in the comparable  periods of 2021).

Armenian insurance sector reports 35.5% increase in tax payments
 Wednesday, April 20 2022, 14:09

ArmInfo. In the first quarter of 2022, the Armenian insurance sector's tax payment a total of AMD 667.7mln - a 35.3% year-on-year increase. Of this amount, direct  taxes totaled AMD 574.2mln (85.9%) - a 37% year-on-year increase. 

Armenia`s insurance sector`s profit decreased sharply
 Thursday, February 10 2022, 14:55

ArmInfo.The profit of the insurance sector of Armenia decreased by 79.2% in 2021 - to 849.4 million drams ($1.8 million), while for  Q4 alone it decreased by  60.1%.  

Tax payments: INGO Armenia leader of Armenia`s insurance sector 
 Tuesday, January 25 2022, 14:25

ArmInfo. Last year, Armenia's insurance sector paid taxes totaling AMD 2.6bln - up by a 36.8% as compared with 2020. Direct taxes totaled AMD 2.2bln or 87.7% of the  total amount. 



Exchange rates
28.03.2024
RUB4.270.00
USD394.46-0.25
EUR425.62-1.93
GBP497.65-0.91
CAD290.11-0.27
JPY26.06-0.05
CNY54.57-0.05
CHF435.72-0.13