Armenia

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Location map
author: OCHA/ ReliefWeb


Location:
- Southwestern Asia.
- Neighbours: Turkey, Georgia, Azerbaijan, Iran.

Climate:
- highland continental, hot summers, cold winters.

Natural hazards:
- occasionally severe earthquakes; - droughts.

Macro indicators
* 2018 estimates
Surface:29,743km2
Population*:3.0million
Pop. density*:100.5people/km2
GDP*:11.0EUR billion
GDP/capita*:3,673.4EUR

Currency: Dram

Code: AMD
Since: 1993


Insurance market portfolio
* 2018 estimates
Overall Property*:9%
Overall Motor*:54%
Health*:26%

Sources:



 


Statistics

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Armenia FY2023 Portfolio

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Armenia FY2023 Ranking


See all statistics

Latest news




ARMENIA: NAIRI Insurance tops the list of major taxpayers among insurers

The volume of taxes in the insurance sector of Armenia in January-September 2022 amounted to AMD 1.3 billion (~EUR 3.30 million) which is 36.1% lower than a year ago. Of this amount, AMD 1.1 billion fell on direct taxes, with an annual decrease of 39.7%, according to the data of the State Revenue Committee of the Republic of Armenia, ArmInfo wrote.














STATISTICS: ARMENIA, FY2021: insurers' business expanded by almost 11% (in local currency)

The insurance sector of Armenia ended 2021 with an increase of almost 11% y-o-y, reaching AMD 49.38 billion (EUR 91.01 million). However, the increase in paid claims more than doubled the GWP increase (almost 23%), their total volume amounted to AMD 28.50 billion (EUR 52.54 million), according to the data on activities of insurance companies provided by ArmInfo.


ARMENIA: MTPL tariffs increase for the first time in 10 years

On February 7, 2022, the cost of MTPL policies in Armenia increased, as the decision of the Board of Directors of the Bureau of Motor Insurers of Armenia dated December 23, 2021, aimed at increasing MTPL GWP due to a strong increase in paid claims and unprofitability in the segment last year, came into force, ArmInfo reports.