Thursday, April 11 2024, 13:02
ArmInfo.By changing the trademark from "INGO Armenia" to "INGO", the insurance company begins
a new stage of its development. As stated in the official statement of INGO IC , the new "simplified" brand name reflects the company's desire to simplify the understanding of its services, to make insurance simple, transparent and reliable. "INGO's mission is to reduce risks and provide clients with the freedom to make confident decisions," the company said in a statement.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Thursday, March 30 2023, 13:08
ArmInfo. According to the preliminary estimate of the Motor Insurers' Bureau, as a result of the liberalization of the CMTPL (Compulsory Motor Third Party Liability) market, from April 1, prices will decrease for 56% of car owners who choose the minimum base rate, for 21% they will remain approximately the same, and for 23% they will increase.
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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 .
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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%.
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Friday, October 28 2022, 21:40
ArmInfo. Insurance companies in Armenia receive profits through insurance mainly from CMPTL and medical insurance - 8.1-7.6 billion drams, to a slightly lesser extent from property insurance, CASCO, accident insurance - 3.6-1.3 billion drams.
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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.
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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.
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Thursday, August 18 2022, 12:26
ArmInfo.. "Rossgostrakh Armenia" IC continues to lead in terms of net insurance premiums and net insurance claims. According to the data of the Financial Rating of
Insurance Companies of Armenia as of June 30, 2022, prepared by
ArmInfo, following the results of the first half of the year, the net
insurance premiums of "Rossgostrakh Armenia" IC exceeded 5.9 billion
drams ($14.6 million), and net insurance claims - 3.8 billion drams
($9.4 million), with a y-o-y growth of the net insurance premiums by
11.3%, while the net insurance claims declined by 7.3%.
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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.
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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.
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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.
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