Armenia

Location:
Southwestern Asia, between Turkey (to the west) and Azerbaijan

Climate:
highland continental, hot summers, cold winters

Natural hazards:
occasionally severe earthquakes; droughts







Currency: Drams (AMD)

1 EUR = 577.47 Dram - AMD (December 31st, 2014)
1 EUR = 559.54 Dram - AMD (December 31st, 2013)
1 EUR = 532.24 Dram - AMD (December 31st, 2012)
1 EUR = 498.72 Dram - AMD (December 31st, 2011)
1 EUR = 481.16 Dram - AMD (December 31st, 2010)

Sources:
ArmInfo News Agency
Central Bank of Armenia

Insurance statistics

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1H2014Insurance market overview pdf
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2010Insurance market overviewpdf
2010Market portfolio and rankingsxls

1H2017 Market Portfolio

1H2017 Insurance Companies Rankings

ARMENIAN insurance companies report 63% surge in net profit

The net profit of six Armenia-based  insurance companies in the first 9 months of 2016 amounted to 3.895.5 billion drams,  up from 2.394.1 billion drams they had earned in the same period of 2015, an increase of 62.7%., according to ARKA news agency's  bulletin "Insurance Companies of Armenia" for the third quarter of 2016.

STATISTICS: ARMENIA, 1H2016: MTPL insurance events below AMD 100,000 may be settled based on the mutual consent of drivers

In the first six months of 2016, the six active insurance companies of the Armenian market totaled AMD 16.1 billion in premium (note: based on the Central Banks financial standards), while based onIFRS standards local market totaled only AMD 15.8 billion. At the same time the indemnities paid by local insurers reached AMD 6.2 billion, according to ArmInfo News Agency.

ARMENIAN insurers pay AMD 4.8 bn in 8-month car insurance compensation claims

Six Armenia-based insurance companies paid a total of 4.8 billion drams in 25,332 car insurance compensation claims in the first eight months of 2016, a decrease of 5.8% when compared to the same time span of 2015, a statement posted on the official website of Armenia's Car Insurers' Bureau says.

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.