ArmInfo. VTB Bank (Armenia) jointly with ROSGOSSTRAKH ARMENIA Insurance Company launch exclusive product- provision of a one-year loan for getting MTPL and CASCO insurance policies by the ROSGOSSTRAKH ARMENIA Insurance Company with possibility to pay by installments, which will reduce client's financial burden.

ArmInfo. Rosgosstrakh Armenia retains leadership in terms of payouts in motor third party liability insurance (MTPL) for the 6th year in a row. In Q1 2016, the company paid out 717 mln AMD in MTPL.

ArmInfo. Retail insurance accounted for 54% (5.2bln drams) of total premiums of the Armenian insurance companies for Q1 2016. Corporate insurance accounted for 46% (4.4bln drams) of total. Retail insurance market capacity fell from 19.7% to 25%, as corporate insurance increased from 12.9% to 27.8%. Before introduction of MTPL insurance and compulsory medial insurance of the staffs of the state-run enterprises in Armenia, the share of corporate insurance was prevailing over the retail one significantly. 

ArmInfo. In Q1 2016, the Armenian insurers paid a total of 3.7 bln drams or $7.6 mln indemnities on various insurance lines (based on reports of insurance companies' portfolios on the Central Bank standards). The year-on-year growth of the insurance indemnities totaled 13.4%. The insurance premiums increased only 1.7% y-o-y to 9.6bln drams or $19.9mln. According to ArmInfo's Ranking of Insurance Companies of Armenia,  Rosgosstrakh-Armenia Insurance Company and Sil Insurance Company were the leaders by the y-o-y growth of indemnities - 27.2% and 24.5%. Armenia Insurance was the only company to see downward trends of indemnities- 3.6% decline y-o-y.  Financial risk insurance indemnities increased 12-fold y-o-y, overland transport liability insurance indemnities increased 81.1% y-o-y, and property insurance indemnities increased 60.7% (insurance against fire, natural calamities 54.1% and other damage - 2.7-fold).

ArmInfo.Insurance sector of Armenia paid 499.02 mln drams of taxes in Q1 2016, which is 9% more than last year's indicator. From this sum 463.9 mln drams were indirect taxes (profit and income taxes), which is by 6% more than last year's indicator. Rosgosstrakh-Armenia and INGO Armenia insurance companies ensure almost 60% share of tax payments by the insurance companies.

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. 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. 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. Yerevan, December 18. ArmInfo. Gayane Isahakyan. Rosgosstrakh Armenia pays the major part of indemnities on the insurance market of Armenia, according to the official data posted on the website of the Armenian Motor Insurers' Bureau.   

ArmInfo. Rosgosstrakh Armenia Insurance Company made over 1 million motor third party liability (MTPL) policies by October 1, 2015. It is the only insurance company in Armenia to make its one-millionth MTPL policy.  According to Rosgosstrakh Armenia press- office, this fact speaks of the high level of consumer trust that company has been enjoying during the five years of its operation in the country. 

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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. 

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ArmInfo. The insurance policy for the four classes is now possible to register, pay for and acquire in the VTB Armenia Bank, which is MTPL, insurance of real estate and property, health insurance, accident insurance. These are the insurance policies with a convenient and popular set of conditions, risks and sums insured. Convenience for the customer is that there is now no longer needed to go to the office of the insurance company for registration.

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