ArmInfo. Armenian insurers in Q1  2017 compensated 4.2 billion AMD or $ 8.6 million for various classes  (figures are given from the reports of the portfolios of the IC  according to ACB standards). On an annual basis, insurers' refunds  increased by 13.8%, versus growth for 13.4% a year ago.

ArmInfo. The premiums of Armenian  insurance companies grew for 3.1% during Q1 2017, with amends'  increase  only for 0.7%. At the same time, insurance premiums fell by  1.1%, with an increase in payments by 32.6%. By April 1, 2017, the  total volume of insurance premiums amounted 9.4 billion AMD, and the  amount of insurance indemnities - 4.3 billion AMD (figures from the  reports of the IC on IFRS standards).

ArmInfo. Armenian Insurance sector for Q1 2017 paid taxes for 550.2 mln AMD, which is more than index of 2016 for 10.3%. 492.1 mln AMD from that sum were the share of the tax and revenue and income tax. According to Armenian State Revenue Committee 6 active insurance companies are involved in 1000 major taxpayers of Armenia in Q1 2017.

ArmInfo. Drops Company jointly with Ameriabank to launch a new  payment instrument -  an  application that reduces the financial burden of individuals by  choosing the desired repayment schedule, especially in the case of  one-time large payments.The Drops company's CEO Vahagn Tsaturyan,  noting that the application will be available to the public from  April 5 this year, announced this on March 28 at the press  conference.

ArmInfo. Based on the results of 2016, the share of retail insurance in premium portfolios of Armenian insurers formed 57% (AMD 18,8 bln), and the corporate insurance share made 43% (AMD14,1 bln).

ArmInfo. In 2016, the Armenian insurance companies' indemnities totaled 14.2 bln AMD or $29.4 mln (the figures are taken from the insurance companies' reports in accordance with CB standards). In 2016, the insurance companies' indemnities grew by 4.9% (versus 38.4% decline in 2015).  The insurance premiums of the companies rose by 5% to 32.9 bln AMD or $68 mln (versus 4.3% growth in 2015).

ArmInfo. Armenian insurance companies premiums in 2016 grew up for 6,8%, within the indemnities drop down for 13,7%. By January 1, 2017 the  aggregate volume of insurance premiums formed AMD 32.2. bln, and the amount of insurance indemnities stands at AMD 14.1 point ( the figures are picked from the Insurance Companies reports due to IFRS standards).

ArmInfo. In 216, the net profit of Armenian insurance companies grew by 34% (versus 71% rise a year before) to 3.6 bln AMD or $7.3 mln.

ArmInfo. In 2016, the  insurance sector of Armenia paid 2.091 bln AMD in taxes, 17.8% more  than in 2015. 1.951 bln AMD of this amount was paid in profit and  income taxes. The Armenian State Revenue Committee reports that all  the 6 insurance companies on the Armenian market are on the list of  the top 1000 taxpayers of Armenia. 

ArmInfo. Armenian Export Insurance Agency approved the 2017-2019 Working Plan. According to the information of the  Ministry of Economy press office, the Program was approved on January 31 during the session of AEIA under the chairmanship of Suren Karayan, the Minister of Economic Development and Investments.

ArmInfo. Ardshinbank and  INGO Armenia insurance company are recognized the best partners of  Financial System Mediator of Armenia in 2016 for the quality of  cooperation and the number of cases solved by conciliation of the  parties, Financial System Mediator Piruz Sargsyan stated today at the  press conference attached to the 8th anniversary of Financial System  Mediator Office establishment in Armenia.

ArmInfo. Throughout 2016 the Export Insurance Agency of Armenia insured export deals amounting to 2 bln drams, Minister of Economic Development and Investments of Armenia Suren Karayan stated on December 28 summing up the results of the year.

ArmInfo. In Jan-Sept 2016, the  share of retail insurance in the premiums of Armenian insurance  companies made up 57.3% (13.6 bln AMD), and the share of corporate  insurance was 42.7% (10.1 bln AMD). Retail insurance declined by 0.2%  amid 0.9% growth in corporate insurance. Before introduction of motor  third party liability insurance (MTPL) and compulsory individual  health insurance of state workers, the share of corporate insurance  considerably prevailed over the retail one.

ArmInfo. In Jan-Sep 2016, the net profit of Armenian insurance companies amounted to 3.9 bln AMD or $8.2 mln, with a 62.7% growth versus Jan-Sep 2015. In Q3 alone, the net profit of insurance companies totaled 1.3 bln AMD, or $2.7 mln, with a 3% decline versus Q2 due to 5-28% decrease in profits of three companies amid 1-45% increase in the remaining three companies.

ArmInfo. The premiums of the Armenian insurance companies grew by 2.6% y-o-y in 9 months of 2016, while the payouts increased by 2.4%. By 1 October 2016, the aggregate amount of insurance premiums made up 23.2 bln AMD, with the amount of payouts exceeding 9.8 bln AMD (the figures are taken from the insurance companies' reports according to IFRS standards).

ArmInfo. Armenia's insurance sector paid 1.6bln drams taxes or $3.3 mln for 9 months of 2016 with a 22.3% year over year growth.  Direct taxes  (including profit and incomes taxes) accounted for 1.5bln drams of total, which is 21% more than a year ago. Among insurance companies Rosgosstrakh-Armenia Insurance Company and INGO Armenia Insurance Company ensure almost 60% of payments to the state budget. The share of insurance companies in total payments of 1000 top taxpayers made 0.3%. 

ArmInfo. European markets are  not as open for our producers and exporters as the Russian market.  For Armenian producers, especially start-up companies, it is much  easier to launch export to Russia rather than Europe, Vardan  Yeghiazaryan, Deputy Executive Director of the Export Insurance  Agency of Armenia (EIAA) told ArmInfo.   

ArmInfo. Arevshat Meliksetyan has been appointed new Executive Director of INGO Armenia insurance company. The former director of the company Levon Altunyan, who was heading the company since the first days of its operation has been appointed Minister of Healthcare by presidential decree from September 27. Arevshat Meliksetyan was appointed on the position on October 5 by the decision of the INGO Armenia CSJC Board, the press-service of the company informs.

ArmInfo. In recent 7 months guarantees amounted to 1 bln AMD have been allocated for export insurance of Armenian products, acting Economy Minister of Armenia Artsvik Minasyan told journalists on September 23. According to the Minister huge work has been conducted in this field.

ArmInfo. Retail insurance accounted for 56% (9.03bln drams) of total premium portfolios for the first half of 2016, with corporate insurance accounting for 44% (7.1bln drams) of total.   At the same time, the retail insurance market capacity suffered a 3.9% y-o-y decline (from 6.5%), as corporate insurance growth slackened dramatically to 7.3% from 18%. Before MTPL and compulsory individual medical insurance for government-funded employees were introduced in Armenia, corporate insurance prevailed over the retail one significantly.