Armenia
STATISTICS: Armenia, 3Q2017: GWP up by 3.78%; two Russian units account for about half of the insurance market
In 3Q 2017, gros premiums written by the local insurers have grown slightly, by 3.78%, to AMD 24,562.59 million (EUR 43.5 million), according to ArmInfo Agency data.
7 December 2017ARMENIA: VTB Bank unveils new offer for preferred clients
VTB Bank (Armenia) unveiled today a new offer, called 'Privilege,' which it said was designed for its preferred customers. The new product is based on Visa Platinum premium cards, the bank's press service reported.
5 December 2017ARMENIA: Compensation for OSAGO shows an impressive annual increase
The volume of accrued insurance premiums for compulsory motor third party liability insurance amounted to 13.9 billion AMD in the first 9 months of 2017, an increase of 4.6% over the year, versus growth of 1.7% a year ago. At the same time, the volume of insurance claims paid was 8.2 bln AMD, with a sharp output of the annual dynamics from a 1.6% decline to a 34.4% increase. This is evidenced by monthly reports published by the Bureau of Motor Insurers of Armenia on OSAGO.
23 November 2017ARMENIAN insurance sector increases tax payments by 31.3% per annum for 9 months of 2017
The Armenian insurance sector paid 2.1 billion AMD or 4.4 million AMD for January-September 2017, exceeding the figure of 31.3% a year ago. Of this amount, 1.9 billion AMD fell on direct taxes (including income tax and income tax), which is 26.7% higher than last year's figure.
13 November 2017Armenia: The loss ratio of MTPL insurance was 60% in the first nine months of 2017, with an annual growth of almost 10%
In the first nine months of 2017, the gross written premiums on the MTPL insurance segment in Armenia increased by 4.6%, to AMD 13.9 billion. By comparison, in the 3Q2016/3Q2015 period, the growth was 1.7%.
9 November 2017ARMENIA: About USD 5 million to be invested in Armenia's agriculture insurance in three years
About USD 5 million will have been invested in agricultural insurance in the next three years, agriculture minister Ignaty Arakelyan said today during a parliamentary discussion of the 2018 draft budget.
6 November 2017Online mandatory insurance of vehicles available in ARMENIA
Armenian motorists are now able to conclude mandatory insurance of their vehicles with any insurance company online at a 5% discount on insurance premiums, the Bureau of Car Insurers of Armenia said today.
6 November 2017ARMENIA: The total net profit of Armenian insurance companies for 9 months of 2017 fell by 56.1% per annum to $ 3.6 million
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 USD 3.6 million.
6 November 2017Armenia is planning a mandatory agricultural insurance scheme
Armenia might have a mandatory agricultural insurance system in place, in about 3 to 5 years, an official of the specialized minister stated to the press, reports Arka News Agency.
19 October 2017ARMENIA: Ingo Armenia plans to win leading positions in the country
Ingo-Armenia, a division of the Russian insurance company Ingostrakh,
plans to take the leading positions in the Armenian market, Ingosstrakh
CEO Mikhail Volkov told journalists in Yerevan on Friday.
4 October 2017ARMENIA: In 2018 a mobile version of registration of insurance cases on the euro-protocolwill be introduced
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.
28 September 2017STATISTICS: ARMENIA, 1H2017: A noticeable growth of losses recorded by local insurers
In 1H2017, Armenian insurance market increased by 5.27%, mainly due to
the implementation of several large economic projects which triggered
the significant increase in accident insurance (54.59%) and CARGO
insurance (+51.29).
21 September 2017ARMENIA: VTB Bank and Rosgosstrakh launch an insurance product "Clean House"
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.
19 September 2017ARMENIAN insurance companies' net profit in first six months halves to 1.26 billion drams
Six insurance companies operating in Armenia earned a total of 1.26 billion drams in net profit in the first six months of this year, down from 2.62 billion they had earned a year earlier. The drop amounted to 51.6%, according to "Insurance Companies of Armenia," a quarterly bulletin, issued by ARKA news agency.
22 August 2017Global insurer ALLIANZ probes Armenian market's business potential
A delegation of the global insurer ALLIANZ led by Antoine ISSA, Regional Director for Middle East and South Africa has recently met the Armenian Minister of finance Vardan ARAMYAN, to assess the business prospects on the local market.
8 August 2017ARMENIA: Central Bank issued a license to RESO Insurance Company for insurance of air transport and liability on usage
The Central Bank of Armenia issued a license to RESO Insurance Company for two new classes - aviation insurance and liability from its use. As the press service of the Central Bank of Armenia told ArmInfo, the decision was made on August 4 at a meeting of the Council of the Central Bank.
7 August 2017ARMENIAN insurance sector increases tax payments by 36.4% per annum in the first half-year
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.
7 August 2017ARMENIA: the capacity of the retail insurance market has improved the annual trend from negative 3.9% to positive 2.7%, while accelerating corporate growth from 7.3% to 8.5%
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%.
7 August 2017ARMENIA: VTB Bank downs interest rates on car loans
VTB Bank (Armenia) has lowered interest rates on car loans, the press office of the bank reported on Monday. Now the bank clients will borrow the money necessary for buying cars at interest rates beginning from 14%. The bank also offers lending for already imported cars, which are brought to Armenia within 30 days before applying for car loans.
5 July 2017ARMENIA: Life insurance system introduction program to be introduced
The Central Bank of Armenia, jointly with the country's government, is planning to work out a program of midterm development of insurance market for expanding pension system.
22 June 2017
