Armenia
ARMENIA: in 1H travel insurance grew by 70% y-o-y
In the first half of 2021, GWP in the travel insurance segment in Armenia increased by 70% (vs a decline of 46.4% a year earlier), reaching AMD 235.9 million (EUR 0.4 million*), ArmInfo reports.
8 September 2021STATISTICS: ARMENIA, 1H2021: GWP increased by about 9.5%, while y-o-y growth of paid claims exceeded 20%
The insurance sector of Armenia in 1H grew by 9.45% to AMD 26.57 billion (EUR 45.06 million). At the same time, paid claims expanded by more than 20% and amounted to AMD 11.30 billion, according to the data on the activities of insurance companies provided by ArmInfo.
24 August 2021ARMENIA: at the end of 1H, corporate insurance continues to dominate in the GWP portfolios of insurers (57%)
According to the 1H2021 results, corporate insurance continues to dominate in the GWP portfolios of Armenian insurers - 57% (AMD 15.1 billion/EUR 25.69 million*) vs the share of retail insurance at 43% (AMD 11.4 billion/EUR 19.40 million*), which is almost the same as a year earlier, ArmInfo reports.
23 August 2021ARMENIA: the number of beneficiaries of the state agroinsurance program exceeded the result of 2020
According to the latest data from the Ministry of Economy, the number of beneficiaries of the state agroinsurance program in Armenia reached 4,300, while in 2020 for the entire year only 1,500 contracts were concluded between farmers and insurance companies, as reported by Ira PANOSYAN, Head of the department for the development of agricultural programs of the Armenian Ministry of Economy, ArmInfo writes.
16 August 2021ARMENIA: total loss of insurers in the first half of the year exceeded AMD 130 million
The insurance sector of Armenia in the second quarter of 2021 returned from loss to profit, having received AMD 94 million, however, according to the 1H results, the companies ended the first half of the year with a loss.
16 August 2021ARMENIA: tax payments of insurers in 1H2021 increased by more than 45% y-o-y
In the first half of 2021, tax payments of the insurance sector of Armenia to the state treasury increased by 45.3% y-o-y and reached AMD 1.5 billion (EUR 2.55 million*), of which AMD 1.4 billion are direct taxes (including income tax, profit tax), which is 50% more y-o-y, ArmInfo reports.
3 August 2021ARMENIA: from the beginning of 2020 to May 31, 2021, payments of the Military Insurance Fund amounted to AMD 38.5 billion
From the beginning of 2020 to May 31, 2021, payments of the Military Insurance Fund totaled to AMD 38.5 billion (~EUR 60.46 million*), ArmInfo reports with reference to the Fund's official statement.
30 June 2021ARMENIA: in January-May, the number of terminated MTPL contracts increased almost 4 times y-o-y
The number of terminated MTPL contracts in Armenia continues to grow rapidly - in January-May by 3.9 times compared to the same period in 2020, amounting to 19,500.
16 June 2021STATISTICS: ARMENIA, 1Q2021: motor insurance decreased by about 3% y-o-y (local currency), while health insurance is practically stagnating
From January to March 2021, the insurance market of Armenia grew by 3.37% (in local currency), to AMD 16.35 billion (EUR 26.25 million), as the data on the activities of insurance companies provided by ArmInfo show.
20 May 2021ARMENIA: in Jan-March 2021, health insurance approached stagnation, while travel insurance decreased by more than 40% y-o-y
In January-March 2021, GWP of the Armenian insurers in health insurance approached stagnation, reducing their growth rate from 8.2% a year ago to 1.1%, to a volume of AMD 7.4 billion (~EUR 13.48 million*), ArmInfo reports.
4 May 2021ARMENIA: the share of e-MTPL in 1Q2021 increased to 19%
In the first quarter of 2021, sales of e-MTPL policies in Armenia increased and their share in the total number of MTPL contracts at the end of the quarter reached 19% (vs 11% a year ago), according to
21 April 2021ARMENIA: the volume of tax payments of the insurance sector in 1Q2021 decreased by 7.7% y-o-y
According to 1Q2021 results, 5 out of 6 operating insurance companies were included in the list of 1000 large taxpayers in Armenia, same as a year ago.
21 April 2021ARMENIA: in February 2021, more agreements were concluded under the agroinsurance program than in the entire 2020
In February 2021, 1,800 agreements were concluded between farmers and insurers within the framework of the agroinsurance program, while in the entire 2020 their number reached only 1,500, writes ArmInfo, according to Ira PANOSYAN, head of the department for the development of agricultural programs at the Ministry of Economy of Armenia.
29 March 2021ARMENIA: about 78% of insured events in 2020 registered in health insurance
In 2020, total market paid claims of Armenian insurers amounted to AMD 23.2 billion (~EUR 36.19 million*), which is 7.3% less y-o-y.
9 March 2021ARMENIA: in 2020, the shares of corporate and retail insurance in the portfolios of insurers were almost equal
According to the results of 2020, retail and corporate insurance in the portfolios of companies recorded almost equal shares - 50.3% and 49.7%, respectively (vs 52.8% and 47.2% a year ago), ArmInfo reports.
1 March 2021Armenia: steps made in developing the country's agriculture may also growth on several insurance business lines
A rural insurance program was implemented in Armenia, in 6 regions, covering 2 crops. In 2021, the program shall be implemented nationwide, covering a total of 11 crops. The program is part of a series of measures aiming at developing the country's agriculture.
16 February 2021ARMENIA: over 82% of the GWP collected in 2020 under the agroinsurance program is directed to risk reinsurance
In 2020, Armenian insurance companies, participating in the agroinsurance program, collected GWP worth AMD 130.94 million (~EUR 0.2 million*), according to the quarterly Financial Rating of Armenian Insurance Companies, prepared by ArmInfo. At the same time, 82.2% (or AMD 107.6 million) was directed to risk reinsurance.
16 February 2021STATISTICS: ARMENIA, FY2020: the market decreased by more than 9% y-o-y (in local currency)
At the end of 2020, GWP of Armenian insurers decreased by 9.33% y-o-y to AMD 44.54 billion (~EUR 69.49 million), according to the data on the insurance companies, provided to ArmInfo.
11 February 2021ARMENIA: in 2020, 5 out of 6 insurance companies included in the list of the largest taxpayers
By the end of 2020, 5 insurance companies out of 6, operating in the local market, were included in the list of 1000 largest taxpayers in Armenia, while a year ago there were only 3 insurers in this list, ArmInfo reports.
27 January 2021ARMENIA: for January-November the share of e-MTPL policies in the total number of MTPL contracts increased to 14%
According to the Bureau of Motor Insurers of Armenia, for 11 months of 2020, the number of online MTPL contracts exceeded by 2.3 times the same indicator for 11 months of 2019, and the share of e-MTPL policies in the total number of MTPL contracts increased to 14% from 5% a year ago, ArmInfo reports.
5 January 2021
