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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1H2013Insurance market overview pdf
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FY2012Insurance market overview pdf
1H2012Insurance market overview pdf
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FY2011Insurance market overview pdf
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1H2011Insurance market overviewpdf
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2010Insurance market overviewpdf
2010Market portfolio and rankingsxls

Armenia FY2017 Market Portfolio

Armenia FY2017 Insurance Companies Ranking

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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.

ARMENIA: Mergers and portfolio handovers expected in 2016-2018

The number of insurance companies in Armenia is expected to reduce over a period between 2016 and 2018 because of mergers or portfolio handovers, 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 insurance companies.

ARMENIA: Insurers' consolidated net profit 74% up y-o-y

Net profit achieved by the six insurance companies operating on the Armenian market amounted to AMD 2.6 billion (EUR 4.9 million) in 1H2016, up by 74% y-o-y in local currency, according to ArmInfo Rating Agency. GWP grew by 4.2% to AMD 15.8 billion (EUR 29.8 million), while claims paid rose by 0.7% to AMD 6.2 billion (EUR 11.7 million).

ARMENIAN insurers increased their net profit by 74% y-o-y in 1H

In Jan-June 2016, the net profit of Armenian insurance companies amounted to 2.6 bln AMD or USD 5.5 mln, with a 74% growth versus Jan-June 2015. In Q2 alone, the net profit of insurance companies totaled 1.3 bln AMD, or USD 2.8 mln, with a 0.5% growth versus Q1 due to 42-58% increase in three companies amid 4-53% decrease in the remaining three companies.