ArmInfo.  In Armenia, the  share of online-colcludedcompulsory motor third party liability  policies (e-CMTPL) in the total number of agreements increased 3-fold  by September 2020 - up to 14% from 5% a year earlier. According to  the Armenian Motor Insurers' Bureau in January-August 2020, the  number of CMTPL contracts concluded online reached 82,690, having  increased 2.5-fold in y-o-y terms. At the same time, the total number  of concluded CMTPL contracts decreased in y-o-y terms (January-August  2020 to January-August 2019) by 16.8%, amounting to 600,271.  The  volume of insurance premiums collected on them amounted to 13 billion  drams, with a y-o-y decline of 8, 2%. And this happened amid y-o-y  decline of 2.9% in the number of vehicles with compulsory motor third  party liability insurance policy. During the reporting period, there  were 617,032 CMTPL contracts that entered into force, the number of  which decreased by 16.9% in y-o-y terms, and the volume of insurance  premiums on them amounted to 13.9 billion drams with a y-o-y decline  of 8.6%. The number of CMTPL contracts terminated during this period  decreased by 59.8% - to 11,312, under which 183 million AMD premiums  were returned or are subject to return. To note for comparison that a  year earlier, in January-August 2019, the growth of vehicles with a  CMTPL contract by 13% was accompanied by an increase in CMTPL  contracts by 33.5% (and e- CMTPL - 3.6-fold) and the volume of  collected premiums - by 25.2%.

ArmInfo. In Armenia, the share of electronic CMTPL (e- CMTPL) certificates of insurance in the total number of contracts increased 3-fold by August 2020 - up to 13% from 4% a year earlier.

ArmInfo. The implementation of the agricultural risks insurance program, which practically began at the end of last year, has shown its effectiveness and even to a certain extent exceeded the expectations of insurers. Specialist in  agricultural insurance, Head of the Underwriting Department of "INGO  Armenia" insurance company Levon Kocharyan said  in an interview with  ArmInfo.

ArmInfo.According to the results of the first half of 2020, the corporate component dominates in the premium portfolios of Armenian insurers - 56.2% (13.7 billion drams), while the retail component accounts for 43.8% (10.6 billion drams), against 55.9% and 44, 1% respectively a year earlier.

ArmInfo. For the first half of 2020, Armenian insurers reimbursed 11.3 billion drams or $ 23.4 million in different classes (the figures are given from the reports  of IC portfolios according to the standards of the Central Bank of  Armenia). In y-o-y terms, insurance claims declined by 4.7%, against  an increase of 9.8% a year earlier. The same deterioration in the  y-o-y dynamics was demonstrated by insurance premiums - from an 18.7%  growth to a 7.7% decline, amounting to 24.3 billion drams or $ 50.3  million.

ArmInfo.  In the H1 of 2020, the  insurance sector of Armenia paid taxes for 1.2 billion drams, which  is 23.9% higher than a year ago. Out of this amount, 339.6 million  drams fell on income tax, with a y-o-y growth of 37.6%.

ArmInfo. In Armenia, e-CMTPL insurance policies (e-CMTPL) are becoming more and more popular among car owners. As a result, the share of e-CMTPL in the total number of CTPL-contracts reached 13% by July 2020 from 4% a year earlier. 

ArmInfo.According to the results of the Q1 of 2020, the corporate component dominates in the premium insurance portfolios of Armenian insurers - 64.2% (10.2 billion drams), while the retail component accounts for 35.8% (5.7 billion  drams), against 65.8% and 34 2% respectively a year earlier. 

ArmInfo.In the Q1 of 2020, premiums of Armenian insurance companies decrease due to the outbreak of the coronavirus pandemic. According to the Financial Rating of Armenian Insurance Companies prepared by ArmInfo IC, premiums fell by 4.2% y-o-y against 17.6% last year. The decrease in the volume of collected premiums was accompanied by a significant slowdown in the  growth of insurance payments - up to 5.8% compared to last year's  13.3%.  

ArmInfo. In Armenia, the online purchase of a Compulsory Motor Third Party Liability (CMTPL)  insurance is rapidly gaining popularity. According to the data of the  Car Insurance Bureau of Armenia, in the first quarter of 2020, the  number of CMTPL agreements signed in online mode reached 24,975, an  increase of 3.2-fold year on year, which increased their share in the  total number of CMTPL agreements from 3% to 11%.  

ArmInfo. In the first quarter of 2020, the insurance sector of Armenia reduced tax payments to the state budget by 15.6% to 534.7 million drams, of which 445.2 million  drams were paid out of direct taxes (including income tax and income  tax).

ArmInfo. According to the  latest data, over 700 agreements on the state program of agricultural  risk insurance were concluded in Armenia. Anna Ohanyan, Spokeswoman  for the Ministry of Economy of the Republic of Armenia, said this at  a press conference in the Unified Information Center on April 15.

ArmInfo. As of March 20, 2020, in Armenia, as part of the pilot program for agricultural risk insurance, 523 insurance contracts were concluded in Armenia. The  press service of the Ministry of Economy of the Republic of Armenia  reported this on March 24.

ArmInfo. Armenian Motor Insurers' Bureau  continues to automate CTPL processes, this time introducing the ASWA mobile application for processing insured events  using the Euro protocol. This was reported by the press service of  the Armenian Motor Insurers' Bureau.

ArmInfo. Agricultural risk insurance program in Armenia will be expanded. This was announced at a press conference in Yerevan on February 17 by head of the   Department of Agricultural Programs Elaboration, Resource Use and  Cooperative Development of the RA Ministry of Economy Ira Panosyan.

ArmInfo. In 2019, the Armenian insurers reimbursed over 25 billion drams or $ 52.1 million for various classes (the figures are given from the reports of insurance  companies portfolios according to the standards of the Central Bank  of the Republic of Armenia).

ArmInfo.In the insurance market of Armenia, the growth of premiums for 2019 accelerated, being ahead of the growth of payments - 19.1% versus 17%, while in 2018 the growth of premiums was inferior to the growth of payments - 17.6%  versus 25.3%.

ArmInfo. At the end of 2019, the retail component dominates in the portfolio of premiums of Armenian insurers - 52.8% (26 billion drams), while the corporate  share accounts for 47.2% (23.2 billion drams), versus 51.8% and  48.2%, respectively a year earlier.

ArmInfo. For 9 months of 2019,  the Armenian insurers reimbursed 18.2 billion drams or $ 38.2 million  in various classes (the figures are given from the reports of  Insurance Companies portfolios according to the standards of the  Central Bank of the Republic of Armenia). In y-o-y terms,  reimbursements of insurers increased by 9.9%, against growth by 37.9%  a year earlier.

ArmInfo. In January-September 2019, the insurance sector of Armenia paid taxes at  1.211 billion drams or $ 2.5 million, which is 25% lower than the  indicator a year ago. Of this amount, 1.2 billion drams accounted for  direct taxes (including income tax and income tax), with an annual  decline of 14.3%. According to the RA State Revenue Committee,  according to the results of 9 months of 2019, 4 out of 6 insurance  companies operating in the Armenian market were included in the list  of 1000 largest taxpayers of Armenia.