ArmInfo. In Q1 2016, the premiums of the Armenian insurance companies grew by 6.7% versus Q1 2015, while the payouts dropped by 1.9%. By 1 April 2016, the aggregate amount of insurance premiums totaled 9.5 bln AMD, while the payouts exceeded 3.2 bln AMD (the figures are given from the insurance companies' reports according to the IFRS standards).

ArmInfo. In Q1 2016, the net profit of Armenian insurance companies amounted to 1.3 bln AMD or $2.7 mln, with a 2.1-fold growth versus Q1 2015. Rosgosstrakh-Armenia was in the lead in terms of net profit in Q1 2016 (2.5-fold rise versus Q1 2015). Nairi Insurance was the second with 235.4 mln AMD (up 42.1%). INGO Armenia was the third with 203.2 mln AMD (36-fold growth, rise from the negative level to a positive one). 

ArmInfo. INGO Armenia Insurance Company will get an opportunity to launch voluntary health insurance (VHI) products in cooperation with medical establishments within single insurance market of the Eurasian Economic Union  (EEU). It is rather promising considering the big Armenian Diaspora of the EEU countries, says Mikhail Volkov, Director General of Ingosstrakh public joint stock insurance company, in an interview with ArmInfo.   

ArmInfo. A system of independent registration of MTPL insurance events below 50,000 AMD by drivers comes into effect today, on March 4 2016. The Bureau of Motor Insurers told ArmInfo, the new process implies a facilitated and prompt mechanism of indemnity payment by an insurance company. Along with this, the Bureau has updated the procedure of contractual relations with expert organizations for insurance events below 50,000 AMD: the terms of repeated examinations have been reduced to 3 working days and the payment for the examination was reduced to 5,000 AMD.  A repeated examination looks to protect the rights of the MTPL insurance event affected party. It is conducted in the cases when the aggrieved persons disputes the examination result of their insurance company concerning the guilty and/or damage level.

ArmInfo. Armenia's insurance market saw a record-breaking net profits for the last five years - 2.5bln drams ($5.2mln) in 2015, with a 71% year-on-year profits.

ArmInfo. From now on, a MTPL insurance event below 50,000 AMD can be settled upon mutual consent of drivers without calling an insurance officer. Arthur Javadyan, the head of the Armenian Central Bank, made such a suggestion at the Government on February 18.  He said drivers can just inform their insurers of the road accident, sign a joint manifesto and enclose photos of the accident to it and send it to the insurance company.

ArmInfo. Insurance sector of Armenia paid 1,775bln drams in 2015, which is 10.3% less than a year ago, of which 1.685bln drams was profit and income taxes.

ArmInfo. Ardshinbank and INGO Armenia insurance company are recognized as the best partners of Financial Ombudsman of Armenia in 2015. As Financial Ombudsman's press-service informed ArmInfo, the criteria of quality of cooperation, relative share of cases solved by conciliation of the parties, etc. was taken into consideration for recognition of the best partners.

ArmInfo. According to the amendments to the Law "On Insurance", the insurance contracts shall compulsorily indicate the behavior rules with respect to the consumers and the criteria of the services rendered to the consumers, as well as the admissible period for the customers to terminate the insurance contract, Deputy Chairman of the Central Bank of Armenia Nerses Yeritsyan said in Parliament on December 18.         

ArmInfo. The public opinion poll conducted by Gallup International Association in Armenia has demonstrated that VTB Bank (Armenia) is the most popular among the financial-credit organizations of Armenia, Aram Navasardyan, Founder and Director at MPG LLC - Exclusive Representative of Gallup International Association in Armenia, told reporters on December 18.  

ArmInfo.  For the first time in this part of the world, Robots Inc.  (Russia) presents the Bal Robotov (Ball of Robots) project directly initiated by Ameriabank and featuring the world's most famous robots in Yerevan. The exhibition that opened in Yerevan on December 8 features over 20 interactive robots from various countries and the best of Armenian robotics. Other entertainments include the dancing robot show, quadcopter zone, robolab, Lego brainstorming/robot building sessions, robot programming and robomarket. Among the robots will be the celebrated RoboThespian - a life-sized humanoid robot and one of the world's most cutting-edge and emotional robots. It can interact with humans, imitate their movements, sing, dance, laugh, cry and even recite Shakespeare due to which it has already been featured in quite a few modern stage plays.  RoboThespian even performed onstage at the CeBit opening ceremony in 2014 in front of German Chancellor Angela Merkel and British Prime Minister David Cameron. 

ArmInfo. For the first time in this part of the world, Robots Inc. (Russia) presents the Bal Robotov (Ball of Robots) project directly initiated by Ameriabank and featuring the world's most famous robots in Yerevan.

ArmInfo.  "Our company has wrapped up the agriculture insurance program," Levon Altunyan, INGO Armenia Insurance Company Executive Officer, told ArmInfo. Yet in late 2014, Minister of Agriculture Sergo Karapetyan said at a final press conference of the Ministry that in 2015 together with INGO Armenia the Ministry planned to implement a pilot program of cattle insurance in Vayots Dzor region. Where the inventory of the cattle was over. He said no other insurance company agreed to undertake such risks. 

ArmInfo. Armenia's insurance sector paid 1.3 billion AMD in taxes for the 9 months of 2015, which is 19.6% less than the last year's indicator. From this sum 1.2 billion AMD was paid as profit tax and income tax.

ArmInfo. Corporate training of employees is one of the most important strategic directions of VTB Bank (Armenia)'s activities. The current corporate training system allows minimizing the banking activity risks because competent and well-trained employees will avoid the mistakes that can result in financial losses of both the bank and its customers.  

ArmInfo. Armenia already has preconditions for introducing life assurance, Director of Institute of Economics and Business at the RAU, former Ministr of Economy, Dr. (Economics), Professor Edward Sandoyan told ArmInfo's correspondent. 

ArmInfo.  The Institute of Economics and Business at Russian- Armenian (Slavonic) University (RAU) launches a Master's Program in insurance. Prime Insurance Brokers Ltd, RAU and Armenia's insurance companies have jointly developed the Master's Program.

ArmInfo. As of Jul 1, 2015 the net worth of the 6 operating insurance companies in Armenia totaled 14.9 bln AMD with a 4.5% yoy growth. In Q2 the indicator decreased by 1.2%. By the Ranking of the Armenian insurance companies, prepared by ArmInfo News Agency, 87,6% or 13.1 bln AMD accounted for the registered capital in the net worth structure.

ArmInfo. By Jul 1, 2015 insurance companies' assets totaled 39 bln AMD with 5.1% yoy fall. In Q2 the decrease indicator totaled 2.8%.

In Q1 2015, the average monthly salary in the Armenian insurance system was 262.3 thsd AMD ($557), 8.8% less than in Q1 2014. The number of employees rose by 0.7% to 143.