The insurance market of Armenia ended 2022 at a historical maximum of premiums and paid claims. The increase in paid claims was imperceptible, while the increase in premiums was double-digit, which allowed the insurance sector to receive a net profit of AMD 4 billion (USD 10 million), with a 5.5-fold annual growth, ArmInfo reports.

Profit from the insurance activity reached AMD 29 billion (USD 74 million), increasing by 62.4% in 2022, which in turn significantly supported net profit, as a result, the accumulated profit increased as well - 2 times to AMD 7.6 billion (USD 19.3 million), and equity - by 19% to AMD 22 billion (USD 56 million).

Nairi Insurance (USD 3.4) holds the lead in net profit, INGO Armenia (USD 2.4) keeps its second place, and Rosgosstrakh Armenia (USD 2 million) ranks third.