Armenia
ARMENIAN insurance companies' profits expected to double in 2016-2018
Armenia's insurance companies expect that their profits will be growing throughout three years and will double by late 2018, the Central Bank of Armenia says in its report 'Possible Developments of Armenia's Banking Sector in 2016-02018' based on programs of prospective development of Armenian banks.
31 August 2016ARMENIA: Mergers and portfolio handovers expected in 2016-2018
The number of insurance companies in Armenia is expected to reduce over a period between 2016 and 2018 because of mergers or portfolio handovers, the Central Bank of Armenia says in its report 'Possible Developments of Armenia's Banking Sector in 2016-02018' based on programs of prospective development of Armenian insurance companies.
31 August 2016Armenia: Changes in the process of concluding MTPL contract
Starting September 1st, 2016, car owners will no longer be required to declare the names of other drivers they allow to drive the vehicles upon buying MTPL insurance, recently said the Bureau of Motor Insurers of Armenia(source: ArmInfo).
25 August 2016ARMENIA: Insurers' consolidated net profit 74% up y-o-y
Net profit achieved by the six insurance companies operating on the Armenian market amounted to AMD 2.6 billion (EUR 4.9 million) in 1H2016, up by 74% y-o-y in local currency, according to ArmInfo Rating Agency. GWP grew by 4.2% to AMD 15.8 billion (EUR 29.8 million), while claims paid rose by 0.7% to AMD 6.2 billion (EUR 11.7 million).
18 August 2016ARMENIAN insurers increased their net profit by 74% y-o-y in 1H
In Jan-June 2016, the net profit of Armenian insurance companies
amounted to 2.6 bln AMD or USD 5.5 mln, with a 74% growth versus
Jan-June 2015. In Q2 alone, the net profit of insurance companies
totaled 1.3 bln AMD, or USD 2.8 mln, with a 0.5% growth versus Q1 due to
42-58% increase in three companies amid 4-53% decrease in the remaining
three companies.
17 August 2016ARMENIA: VTB Bank along with ROSGOSSTRAKH offers 'Family' new accident insurance contracts
An accident insurance contract with ROSGOSSTRAKH ARMENIA already can be signed in VTB Bank (Armenia).
8 August 2016ARMENIA: Rosgosstrakh paid AMD 2.5 billion in compensation claims for 1H2016
Rosgosstrakh Armenia insurance company paid 2.5 billion drams in insurance compensation claims for the first six months of 2016. The bulk of the amount- about 1.39 billion drams- were paid as car insurance compensation claims, the company said in a press release.
8 August 2016ARMENIA's financial and insurance sectors boasted highest gross monthly salary in 2016 may
Armenia's financial and insurance sectors boasted the highest gross monthly salary in 2016 May -393,102 drams, which was up 4.3% when compared to May 2015, the National Statistical Service (NSS) said.
4 August 2016ARMENIA: 2.2% year-on-year growth in financial sector services
Services in Armenia's finance and insurance sectors totaled AMD 118.6 billion in Jan-June 2016 showing a 2.2 percent year-on-year growth.
2 August 2016Rosgosstrakh Armenia 's CASCO and MTPL policies financed by a dedicated VTB Bank loan
VTB Bank (Armenia) and the Armenian subsidiary of Rosgosstrakh have launched a co-branded, 'exclusive' product consisting in a loan granted by the bank specifically for the purchase of mandatory motor car and CASCO insurance policies provided by Rosgosstrakh Armenia, the bank's press service said in a press release.
13 July 2016Armenia, 1Q2016: GWP growth by 6.7%, while claims decreased by 1.9%
In 1Q2016, GWP by Armenian insurance companies increased by 6.7%, to AMD 9.5 billion compared to the similar period of 2015. At the same time, in the analyzing period the volume of claims paid by the insurers dropped by 1.9% and totaled AMD 3.2 billion, according to the ArmInfo Agency based on the companies' reporting in accordance to the IFRS standards.
30 June 2016ARMENIA: VTB Bank and RESO offer new terms for acquisition of MTPL, MTPL+, health insurance, property insurance
VTB Bank (Armenia) and RESO insurance company offer new terms for acquisition of 4 types of insurance products (motor third party liability insurance (MTPL) MTPL, MTPL+, health insurance, property insurance), which have been prepared for the customers of VTB Bank (Armenia), who make use of RESO's services.
29 June 2016ARMENIA: In Q1 2016, cargo transportation grew by 62.9%
In Q1 2016 versus Q1 2015, cargo transportation in Armenia grew by 62.9% to 3 164.9 thsd tons, from which 2091.5 thsd tons (66.1% from the total volume) was transportation by road, the National Statistical Service of Armenia reports.
23 May 2016ARMENIA-based insurance companies collect 9.5 billion drams of premiums in Q1
Six Armenia-based insurance companies collected a total of 9.5 billion drams of insurance premiums in the first three months of 2016, a 6.7% year-on-year growth, according to ARKA news agency's 2016 first quarter bulletin "Insurance companies of Armenia."
23 May 2016ARMENIA: Rosgosstrakh retains leadership in terms of insurance payouts in MTPL
Rosgosstrakh Armenia retains leadership in terms of payouts in motor
third party liability insurance (MTPL) for the 6th year in a row. In Q1
2016, the company paid out 717 mln AMD in MTPL.
23 May 2016ARMENIA: Insurers paid 2.5 billion drams in car insurance compensation claims in 4M2016
Six Armenia-based insurance companies paid a total of 2.5 billion drams in 12,924 car insurance compensation claims in the first four months of 2016, a decrease of 4.2% when compared to the same time span of 2015, a statement posted on the official website of Armenia's Car Insurers' Bureau says.
23 May 2016ARMENIAN insurance companies double net profit in quarter one
Six Armenia-based insurance companies earned more than 1.3 billion drams in net profit in the first quarter of 2016, up from 631.6 million drams they had earned in the same time span of 2015, according to ARKA news agency's bulletin "Insurance Companies of Armenia" for the fourth quarter of 2015.
23 May 2016ARMENIAN insurance companies pay about 500 million drams in taxes for quarter one
The list of the 1000 largest Armenian corporate taxpayers in the first quarter of 2016 includes all six insurance companies operating in the country which paid a total of 499 million drams in various taxes, up from 457.4 million drams they had paid for the first quarter of 2015, the State Revenue Committee said.
3 May 2016ARMENIAN insurance sector's loss rate down 1% in March
The loss rate of Armenia's insurance sector stood at 49% in March 2016 showing a one-percent decline, compared with the previous month, the Armenian Motor Insurers Bureau reports on its website.
21 April 2016STATISTICS: ARMENIA, FY2015: Record net profit in past five years, up by 71% y-o-y
Benfitiing from the positive results recorded on the voluntary types of insurance, the Armenian insurance market saw a y-o-y GWP increase of 4.3% in 2015. Moreover, it recorded a record net profit in past five years, reaching to AMD 2.5 billion, up by 71% y-o-y, according to ArmInfo News Agency.
21 April 2016
