ArmInfo. In February 2021, 1,800 agreements between farmers and insurance companies were concluded in Armenia within the framework of the agricultural  insurance program, while for the whole of 2020 their number was  1,500, Head of the Department for Development of Agricultural  Programs of the RA Ministry of Economy Ira Panosyan said.

ArmInfo. For 2020, Armenian insurers reimbursed 23.2 billion drams or $ 44.4 million in different classes (figures are given from the reports of IC portfolios  according to the standards of the Central Bank of Armenia).

ArmInfo.At the end of 2020, premiums in the insurance market of Armenia turned their annual dynamics from 19.1% growth to 2.6% decline, which was also observed  along the trend of indemnities - from 17% growth to 13.2% decline. 

ArmInfo.The total net profit of insurance companies in Armenia for 2020 jumped 4.6 times (against a growth of 6.4 times in 2019), exceeding 4.4 billion drams or $ 8.5  million. According to the Financial Rating of Armenian insurance  companies prepared by ArmInfo IC, this was observed against the  background of deterioration of the annual dynamics of both premiums  and reimbursements, the former being less significant than the  latter.

ArmInfo. In 2020, the shares of retail and corporate components in premium portfolios of Armenian insurers almost equalized - 50.3% (22.4 billion drams) and 49.7%  (22.1 billion drams), against 52.8% and 47.2%, respectively. earlier.  According to the Financial Rating of Insurance Companies in Armenia,  prepared by ArmInfo IC, the retail insurance market capacity dropped  by 13.6% from 22.1% growth a year earlier, along with which the  dynamics of corporate insurance worsened - from 17.3% to 4.5%  decline.

ArmInfo.Armenian insurance companies registered the first results of agricultural risks insurance - for 2021. According to the quarterly Financial Rating of Insurance  Companies of Armenia, prepared by the Financial Analysis Service of  ArmInfo IC, in 2020 the country's insurers participating in the  agricultural insurance program collected premiums totaling 130,946.0  thousand drams.  

ArmInfo.In Armenia, the growth rate of sales of E-CMTPL policies is slowing down - from 3.6-fold in 2019 to 2.2-fold in 2020. According to the Bureau of Motor Insurers  of Armenia, in 2020 the number of CMTPL agreements concluded online  reached 135,452. Their share in the total number of CMTPL agreements  increased from 5% in 2019 to 15% in 2020.

ArmInfo.The list of 1000 largest taxpayers in Armenia at the end of 2020 included 5 insurance companies out of 6 operating in the country, while a year earlier  there were only 3 in this list.

ArmInfo.

ArmInfo.

ArmInfo.According to the results of 9 months of 2020, the corporate component dominates in the premium portfolios of Armenian insurers - 50.9% (AMD 17.2 billion),  while the retail component accounts for 49.1% (AMD 16.6 billion),  against 49.7% and 50, 3% respectively a year earlier.

ArmInfo.

ArmInfo. The total net profit of insurance companies in Armenia for 9 months of 2020 jumped 3.6 times against the same period last year (against 3 times growth a  year earlier), exceeding 4 billion drams ($ 8.2 million).

ArmInfo.

ArmInfo.The insurance sector of Armenia in January-September 2020 paid taxes for 1.6 billion drams ($ 3.2 million), which is 33.3% higher than a year ago (against a 25%  decline a year earlier). Of this amount, 1.4 billion drams fell on  direct taxes, with an annual growth of 16.7% (against a 14.3% decline  a year earlier).

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.