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 = 512.20 Dram - AMD (December 31st, 2016)
1 EUR = 528.69 Dram - AMD (December 31st, 2015)
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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1H2014Insurance Companies Rankingsxlsx
FY2013Insurance market overview pdf
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1H2012Insurance market overview pdf
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FY2011Insurance market overview pdf
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2010Insurance market overviewpdf
2010Market portfolio and rankingsxls

Armenia 1Q2018 Market Portfolio

Armenia 1Q2018 Insurance Companies Ranking

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ARMENIAN insurance sector increases tax payments by 36.4% per annum in the first half-year

The insurance sector  of Armenia paid 1.5 billion drams in the first half of 2017,  exceeding the figure of the previous year by 36.4%. Of this amount,  1.4 billion drams fell on direct taxes (including income tax and  income tax), which is 40% higher than last year's figure. According  to the RA State Revenue Committee, in the list of 1000 largest  taxpayers of Armenia, according to the results of the first half of  2017, all 6 insurance companies operating on the market were  included.

ARMENIA: the capacity of the retail insurance market has improved the annual trend from negative 3.9% to positive 2.7%, while accelerating corporate growth from 7.3% to 8.5%

The share of retail insurance in the  portfolios of premiums of Armenian insurers for the first half of  2017 was 54.6% (9.3 billion drams), corporate - 45.4% (7.7 billion  drams). At the same time, the capacity of the retail insurance market  improved the annual trend from negative 3.9% to positive 2.7%, while  the growth rate of corporate insurance accelerated from 7.3% to 8.5%.

ARMENIA: VTB Bank downs interest rates on car loans

VTB Bank (Armenia) has lowered interest rates on car loans, the press office of the bank reported on Monday. Now the bank clients will borrow the money necessary for buying cars at interest rates beginning from 14%. The bank also offers lending for already imported cars, which are brought to Armenia within 30 days before applying for car loans.

ARMENIA: Compulsory Vehicle Insurance "direct payout"tool launched on April 1 2017

From April 2017 new conditions of CVI  insurance indemnifications are  enforced  in Armenia. As Vahan Avetisyan the director of  Armenian Motor Insurance Bureau has stated earlier, in 2016 all the necessary technical and procedural backgrounds were created so that from April 2017 CVI insurance certificates holders  could receive indemnifications from their insurance company.

ARMENIA-based insurers earned AMD 4.058 billion in net profit in 2016

Armenia-based six insurance companies earned a total of 4.058 billion drams in net profit in 2016, up from 2.672.8 billion drams they had earned in 2015 (51.8% increase), according to ARKA news agency's bulletin "Insurance Companies of Armenia" for the fourth quarter of 2016. All six companies closed the past year with a profit, whereas in 2015 two companies reported losses.