Get access to Axco’s online product with the latest market intelligence for the market of your choice
Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Armenian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Armenia's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Armenian non-life (P&C) market as well as trends by line of business. Axco analysts also report on Armenia's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Armenian insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Armenia, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Armenia, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Armenia with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Armenia's non-life market was ranked 138th globally in 2018 and would be considered a small emerging market. As in some other post-Soviet economies, insurance culture and product penetration remains low, especially in the consumer segment. There are few compulsory insurances although compulsory motor third party liability has been a requirement since 1 January 2011. A severe earthquake was last experienced in Gyumri (Leninakhan), in December 1988.
Preliminary full year 2019 gross written premiums ...
This is a brief extract of information; more updated information may be available in the latest published report.