According to analysts, the growth in net profit was the result of a strong slowdown in the GWP decline (from 19% to 7%) and a remarkable change in the paid claims dynamics from double-digit growth to a slight decline, according to the data of the Financial Rating of Insurance Companies of Armenia as of 31.03.2025, prepared by ArmInfo.
In terms of net profit in the first quarter of 2025, LIGA Insurance ranks first (AMD 384.5 million/~EUR 0.90 million), REGO Insurance moved up to the second place (AMD 155.3 million), and EFES closes the top three (AMD 139.3 million). At the same time, only one company on the market ended the first quarter with a loss - Sil Insurance.
It is noted that the equity capital of insurance companies slowed in growth from 12.6% a year earlier to 3.2%, and its growth in the first quarter was supported by an increase in the charter capital by 4% and reserve capital by 18%, with a slight increase in accumulated profit. Moreover, accumulated profit remains in the black for four companies out of seven operating on the market.
On an annual basis, only two companies replenished their charter capital - EFES (by 25% - to USD 6.4 million) and Nairi Insurance (by 12% - to USD 5.1 million). Leadership in equity and charter capital is maintained by LIGA Insurance (USD 19 million and USD 11.4 million, respectively), which also ranks first in accumulated profit (USD 7.5 million), the source added.
* 1 EUR = 423.72 AMD (March 31st, 2025)
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