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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Total assets of ARMENIA's pension funds stand now at 35.5 billion drams

The total assets of Armenia's pension funds managed by two companies stand  now at 35.5 billion drams, and the annual yield is 7%, Karen Hakobyan, the head of securities regulation division of the Central Bank's financial system regulation department , said today at a discussion devoted to the funded pension system.

ARMENIAN regulator sets system of differentiated obligatory insurance payments

The Central Bank of Armenia has set up a system of differentiated obligatory insurance payments which Armenia's banks transfer to the deposit guarantee fund. According to the press office of the central bank, an appropriate law has been amended to allow the regulator to set higher obligatory payments for banks, depending on degrees of their exposure to risk.

ARMENIA: Number of insured cars has grown from 390,457 in 2011 to 457,878 in 2015

The number of insured cars has grown from 390,457 in 2011, when mandatory car insurance was introduced in Armenia, to 457,878 in 2015, Vahan Avetisyan, executive director of the Car Insurers Bureau, said Tuesday at a news conference summarizing the results of the first five years of obligatory car insurance in the country.

ARMENIA, 3Q2015: GWP up by 0.13%

In the first nine months of 2015, the six active insurance companies of the Armenian market underwrote AMD 22.5 billion gross premiums, up by 0.13% y-o-y. Compared with the first quarter of 2015, GWP in the third quarter were down by 23.5%, according to АРКА news agency. At the same time the indemnities paid by local insurers totaled AMD 9.5 billion.
In 2015, drivers in Armenia paid a total of 17.660 billion AMD (USD 36.360 million) to insure their vehicles. Rosgosstrakh-Armenia, the company enjoying the largest share of the market received 5.761 million AMD in insurance payments last year; followed by Inco (3.914 million), Nairi (2.873m), Sil (2.037m), Reso (1.892m) and Armenia Insurance (1.182m).