ArmInfo. The premiums of  Armenian insurance companies for the III quarter of 2017 improved the  dynamics with the exit from the 22.8% decline to 1.8% growth (against  15.1% growth in Q3 2016), with a similar picture of compensation - of  the 10.2% decline in the 11.5% growth (against 19.6% growth in the  third quarter of 2016).

ArmInfo. The total net profit  of Armenian insurance companies for 9 months of 2017 fell by 56.1%  per annum (against growth of 62.7% a year earlier), amounting to 1.7  billion AMD or $ 3.6 million. According to the Ranking of insurance  companies of Armenia prepared by NA ArmInfo, the deterioration of the  annual dynamics was caused by a sharp acceleration of the upward  trend of insurance compensation from 4.8% to 19.3% with a low growth  rate of insurance premiums - 3.8% against 0.3% a year earlier. In the  annual context (9 months of 2017 to the same period in 2016), profit  loss was observed in five insurance companies, three of which reduced  the positive indicator by 40-64%, and two moved from profit to loss  (Seal Ishurans and RESO), and only one the company  (Armenia-Insurance) managed to increase profits by 15.3%.

ArmInfo. In the sphere of agriculture in Armenia, by 2021 the system of agricultural insurance will be fully implemented. This was reported by the Minister of Agriculture of Armenia Ignaty Arakelyan on October 11 at a meeting with journalists.

ArmInfo. Taking into account the very progressive approach taken by Armenia as a basis for implementing the MLA, in 2-3 years an economically effective risk model of medical insurance will develop in the country. Such an opinion on September 29 at a press conference timed to the 20th anniversary of INGO Armenia Insurance Company, Tatiana Kaygorodova, Deputy General Director of IPJSC Ingosstrakh, said.

ArmInfo. On September 29, Armenian Prime Minister Karen Karapetyan received the General Director of the Russian IPJSC Ingosstrakh, Mikhail Volkov, and discussed issues related to further development of the insurance market.

ArmInfo. INGO Armenia Insurance Company is a system- forming, client-oriented, sustainable, and one of the most developed in terms of innovation. Such an opinion on September 29 at a press conference timed to the 20th anniversary of INGO Armenia Insurance Company, Tatiana Kaygorodova, Deputy General Director of SPC Ingosstrakh, said.

ArmInfo. With the introduction of a system of direct reimbursements in Armenia, the gap in the average size of the insurance payment for OSAGO has narrowed significantly - from the previous 150-210 thousand drams to the current 178-198 thousand drams.  Vahan Avetisyan, executive director of the Armenian Auto Insurers' Bureau, explained in an interview with ArmInfo correspondent that this is because the principles and approaches of insurance companies to the damage assessment became more similar.

ArmInfo. In 2018, a mobile version of the registration of insurance cases for the Euro-protocol (according to the simplified scheme) will be introduced to maximize the convenience of drivers when registering accidents. Vahan Avetisyan, Executive Director of the Armenian Auto Insurers' Bureau, told ArmInfo correspondent that at present the application is at the stage of registration of the technical assignment. As a result, drivers with an independent registration of an insurance event will have a choice in which version to fill out a questionnaire - paper or mobile.

ArmInfo. VTB Bank (Armenia) and the insurance company Rosgosstrakh Armenia represent a new product - real estate insurance "Clean House". As the press service of the Bank told ArmInfo, the cost of the "Clean House" package is 13.5 thousand drams, the total insurance sum is 1 million drams.

ArmInfo. The insurance sector  of Armenia paid 1.5 billion drams in the first half of 2017,  exceeding the figure of the previous year by 36.4%. Of this amount,  1.4 billion drams fell on direct taxes (including income tax and  income tax), which is 40% higher than last year's figure. According  to the RA State Revenue Committee, in the list of 1000 largest  taxpayers of Armenia, according to the results of the first half of  2017, all 6 insurance companies operating on the market were  included.

ArmInfo. The share of retail insurance in the  portfolios of premiums of Armenian insurers for the first half of  2017 was 54.6% (9.3 billion drams), corporate - 45.4% (7.7 billion  drams). At the same time, the capacity of the retail insurance market  improved the annual trend from negative 3.9% to positive 2.7%, while  the growth rate of corporate insurance accelerated from 7.3% to 8.5%. 

ArmInfo. The share of retail insurance in the  portfolios of premiums of Armenian insurers for the first half of  2017 was 54.6% (9.3 billion drams), corporate - 45.4% (7.7 billion  drams). At the same time, the capacity of the retail insurance market  improved the annual trend from negative 3.9% to positive 2.7%, while  the growth rate of corporate insurance accelerated from 7.3% to 8.5%. 

ArmInfo.  The premiums of Armenian  insurance companies declined by 22.8% in Q2 of 2017, with declines of  10.2%. In the first half of the year, the annual growth of insurance  premiums was much more modest - 4.7%, rather than payments - 30.5%.  By July 1, 2017, the total volume of insurance premiums was 16.6  billion drams, and the amount of insurance indemnities - 8.1 billion  drams (figures are from the reports of IC on IFRS standards).  According to the Ranking of insurance companies of Armenia prepared  by ArmInfo News Agency, as a result of this the insurance system  summed up the first half of 2017 with a net profit of 1.3 billion  drams with a quarterly growth of 44.6%, with an annual decline of  51.6%. According to reports of SC portfolios on CBA standards,  insurance premiums totaled 16.98 billion drams (an annual growth of  5.3%), and compensation - 8.02 billion drams (annual growth of  17.7%). The decline in fees during the reporting period was recorded  in 2 out of 6 companies operating in the insurance market of Armenia,  while the decline in compensation was observed in the 1 st.

ArmInfo. The total net profit of Armenian insurance  companies in the first half of 2017 dropped 51.6% year-on-year  (against growth of 74% a year earlier) to 1.3 billion AMD or $ 2.6  million. According to the Ranking of Armenian insurance companies  prepared by NA ArmInfo, the deterioration in the annual dynamics was  caused by a sharp acceleration of the upward trend of insurance  claims from 0.7% to 30.5% with a continuing low growth rate of  insurance premiums - 4.7% against 4.2% a year earlier. In the annual  breakdown (I half-year of 2017 to the first half of the year 2016),  profit loss was observed for all six insurance companies, with RESO  being the most significant - by 2.2 times - with the departure from  plus to minus.

ArmInfo. The Central Bank of  Armenia is currently studying the credit lines of farmers affected by  the hail to determine the grace period for repayment of principal  payments. The possibility of providing the villagers with a grace  period for payments for land and water is considered in the Ministry  of Territorial Administration and Development. The Minister of  Agriculture of Armenia, Ignaty Arakelyan, told journalists on June 29  after the meeting of the government.

ArmInfo. Bank Anelik restarted Careful pension card product in an expanded format, Nerses Karamanukyan, chairman of Anelik Bank Management stated during the press conference on June 19.

ArmInfo. The development of extreme tourism in Armenia faces obstacles first due to the absence of cooperation between Armenian insurers and tourism sector entities.  Such an opinion was stated by participants of the meeting arranged on June 7 by the State Committee on Tourism, comprising representatives of tourism development companies, associations, and federations occupied in the field on extreme tourism.

ArmInfo. Within the framework of cooperation with Armenian State  University of  Economics  (ASUE) and  University of France in Armenia (UFAR), the INGO Insurance  Company conducted master classes on insurance for the students of alma maters mentioned.  According to the press office of  Insurance Company, the lecturers at Master Classes were the specialists of different divisions of the Company.

ArmInfo. Share of retail insurance in portfolios of premiums of Armenian insurers on the basis of Q1 2017 was 52.1% (4.96 billion AMD), corporate - 47.9% (4.6 billion AMD).

ArmInfo. The total net profit of Armenian insurance companies in Q12017 dropped by 60.3% annually (versus growth of 2.1 times a year ago), forming  518.9 million AMD or $ 1.1 million.