ARMENIA: corporate insurance in 2018 accelerated growth from 8.5% to 28.8%

According to the results of 2018, retail insurance in Armenia amounted to 51.8% or AMD 21.3 billion, while corporate insurance reached 48.2% or AMD 19.7 billion, as data from the Financial Rating of insurance companies of Armenia, prepared by ArmInfo, show.

However, growth rates of corporate insurance last year were much higher than retail, from 8.5% in 2017 to 28.8% in 2018, while the growth of the retail insurance accelerated only from 4.5% to 8.4% y-o-y.

In total paid claims, the share of retail insurance amounted to 68.1% or AMD 15.5 billion, and the share of the corporate was 31.9%, or AMD 7.3 billion. In terms of paid claims, the growth rate of corporate insurance also accelerated significantly from 15% to 44%, while growth rate of retail insurance, on the contrary, decreased from 29% to 22%.

* 1 EUR = 553.65 Dram - AMD (December 31st, 2018)

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