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%.  

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. 

ArmInfo. In Armenia, the number of vehicles with CMTPL policy is gradually recovering its growth rates, allowing the increase in fees to gain momentum. Thus,  according to the Bureau of Motor Insurers of Armenia, their number  increased by 9.6% per annum in 2021, with an exit from the 12.4%  decline in 2020, but so far is much inferior to the pre-Covid  ascending 18.5% in 2019.

ArmInfo.A total of 1,345 insurance contracts were signed in Armenia under the pilot  agricultural insurance programme, with 4,300 contracts signed this  year, Ira Panosyan, Head of the Department of Agricultural Programs  Elaboration, Resource Use and Cooperative Development, RA Ministry of  Economy, told reporters. 

ArmInfo. The number of vehicles with a compulsory motor third party liability insurance (CMPTL) policy in Armenia is gradually recovering its growth rates,  which allows the growth of fees to gain momentum.

ArmInfo. In Armenia, the very slow growth of vehicles with a CMPTL policy restrains the growth of fees. So, according to the Motor Insurers' Bureau of Armenia, in  January-September 2021 their number increased by 1.3% per annum, with  a change of the 3.6% decline a year earlier, but is still much  inferior to the pre-COVID rising rates of 14.3% for the same period  of 2019.

ArmInfo. The insurance sector of Armenia in January- September 2021 paid taxes for 2.1 billion drams ($ 4.3 million), which is 31.3% higher than a year ago  (against 33.3% growth a year earlier). Of this amount, 1.8 billion  drams fell on direct taxes, with a y-o-y growth of 28.6% (against  16.7% growth a year earlier).

ArmInfo. The ARMENAL plant was visited by a delegation of INGO Armenia insurance company, the leader of the Armenian market, and representatives of its parent  organization INGOSSTRAKH, which is one of the top three Russian  insurers, headed by a member of the Board of Directors Alexei  Sokolov. This is stated in the message of the press service.

ArmInfo. The growth of vehicles with CMTPL (compulsory motor third party liability policy) resumed in Armenia. And as evidenced by the data of the Bureau of  Motor Insurers of Armenia, their number increased in January-August  2021 by 1% per annum, with an exit from the 2.9% decline a year  earlier, but so far it is much inferior to the pre-covid upward rate  of 13% for the same period in 2019.

ArmInfo.In Armenia, fees on travel insurance reached a significant 70% growth in the first half of 2021 (from a significant 46.4% decline a year earlier), reaching a  volume of 235.9 million drams ($ 475.8 thousand). Such growth,  associated with some activation of outbound tourism, allowed not only  to approach the volume of two years ago, but also to return the 1%  share of travel insurance in the total portfolio of premiums.

ArmInfo.In the premium portfolios of Armenian insurers in the first half of 2021, the  corporate component continues to prevail over the retail one - 57%  (15.1 billion drams) and 43% (11.4 billion drams), almost repeating  the indicators of a year ago - 56.2% and 43.8% respectively.  According to the Financial Rating of Insurance Companies of Armenia,  prepared by ArmInfo IC, the annual dynamics of the absolute values of  both indicators changed from the 7.4-8.5% decline by 10.9-7.6%  growth.

ArmInfo. The attempt of the Armenian insurance sector to get out of the loss for profit in Q2 2021 was crowned with success, but the received amount of 94 million drams ($ 189 thousand) was insufficient to zero out the six-month loss. According to the Financial Rating of insurance companies in Armenia, prepared by ArmInfo IC, the total loss of 6 insurance companies for H1 2021 was amounted to 130.6 million drams (over $ 263.4 thousand), with a 2-fold y-o-y drawdown (from plus to minus level), with a quarterly 2.5-fold growth (reaching the plus level).

ArmInfo.

ArmInfo.In Armenia, the number of terminated CMTPL contracts continues to grow rapidly - 3.9 -fold in January-May 2021 compared to the same period a year ago, amounting to 19,500. And almost the same - the volume of returned or refundable  premiums increased by 3 times - up to 236.1 million drams ($ 453.4  thousand). This is evidenced by the data of the Bureau of Motor  Insurers of Armenia, according to which, in the reporting period, the  number of vehicles with MTPL policy decreased by 2.3%.

ArmInfo.

ArmInfo.

ArmInfo. In Armenia, health insurance fees approached stagnation in the first quarter of 2021, narrowing the annual growth rate from 8.2% to 1.1%, to a volume of  7.4 billion drams ($13.8 million).

ArmInfo. In the first quarter of 2021, the share of the corporate component in the premium portfolios of Armenian insurers significantly exceeded the retail component -  64.9% (10.6 billion drams) and 35.1% (5.7 billion drams). AMD),  almost repeating the figures of a year ago - 64.2% and 35.8%,  respectively.

ArmInfo. According to the results of the first quarter of 2021, 5 insurance companies out of 6 operating in the country were included in the list of 1000 large  taxpayers in Armenia, as in the previous year.

ArmInfo. In Armenia, the growth of CMPTL E-policy sales continues to  slow down in 2021 , to 66.1% in the first quarter from 3.2 times in  the same period in 2020. According to the Armenian Motor Insurers '  Bureau, the number of CMPTL contracts concluded online reached 41,493  in the first quarter of 2021. Their share in the total number of  CMPTL contracts increased in the first quarter of 2021 to 19% from  11% a year earlier.