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.

ArmInfo. Motor Insurers' Bureau of Armenia announces an increase from August 1, of the maximum damage threshold under the Euro protocol to 200 thousand AMD from the previous 100 thousand AMD. As the Bureau explains, this new threshold applies to insured events in Yerevan, the agreed declaration for  which is filled out through the ASWA mobile application.

ArmInfo.

ArmInfo.

ArmInfo.The total net profit of insurance companies in Armenia in the first half of 2020 jumped 4.4 times against the same period last year (against 71% growth a year  earlier), exceeding AMD 3.3 billion or $ 6.9 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. In Armenia, sales of TPL electronic policies are growing rapidly, the share of which in the total number of TPL agreements by June 2020 increased to 13% from 4% a year earlier. According to the data of the Auto Insurers Bureau of  Armenia, according to the results of January-May 2020, the number of  TPL-agreements concluded in the online mode reached 45504, having  increased 3 times in annual terms.

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.

ArmInfo.For the first quarter of 2020, Armenian insurers reimbursed 6.4 billion drams or $ 12.7 million for different classes (the figures are given from the reports of UK portfolios according to the standards of the CBA). Annual  growth in insurance claims accelerated from 4.3% to 7.1%.

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.