Although very small, the Armenian insurance industry registered significant growth during the review period (2009–2013). Its written premium grew at a review-period compound annual growth rate (CAGR) of 50.9%. This was mainly due to the introduction of mandatory third-party motor insurance in 2011, which had a significant impact on the growth of motor insurance and the overall insurance industry. The written premium value of the motor insurance category rose at a review-period CAGR of 209.8%.
The report provides in-depth industry analysis, information and insights of the insurance industry in Armenia, including:
- The Armenian insurance industry’s growth prospects by insurance segments and categories
- The competitive landscape in the Armenian insurance industry
- The current trends and drivers of the Armenian insurance industry
- Challenges facing the Armenian insurance industry
- Detailed regulatory framework of the Armenian insurance industry
This report provides a comprehensive analysis of the insurance industry in Armenia:
- It provides historical values for the Armenian insurance industry for the report’s 2008–2012 review period and projected figures for the 2012–2017 forecast period.
- It offers a detailed analysis of the key segments and categories in the Armenian insurance industry, along with forecasts until 2017.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in Armenia, and outlines the key regulations affecting them.
Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast industry data related to the Armenian insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities within the Armenian insurance industry.
- Assess the competitive dynamics in the Armenian insurance industry.
- Identify the growth opportunities and market dynamics within key segments.
- Gain insights into key regulations governing the Armenian insurance industry and its impact on companies and the industry’s future.
- The Armenian insurance industry grew at a review-period CAGR of 50.9%
- The introduction of compulsory motor third-party liability insurance on January 1, 2011 drove the demand for motor insurance
- Motor insurance was the largest category in the non-life segment in terms of written premium value during the review period
- The outlook for the Armenian insurance industry is projected to be buoyant, and is expected to achieve healthy growth over the forecast period
- There were 12 insurance providers licensed to conduct business in 2010, which fell to seven in 2011
- In terms of gross written premium, Rosgosstrakh Armenia accounted for 29.2% of the industry in 2011, followed by Ingo Armenia with 21.7%, Nairi Insurance with 11.9% and Reso with 10.5%
Spanning Over 127 pages, 78 tables, 74 figures, “The Insurance Industry in Armenia, Key Trends and Opportunities to 2018” report covering the Armenian Insurance Industry Overview, Industry Segmentation, Governance, Risk and Compliance, Competitive Landscape, Economic Indicators, Appendix. The report covered 7 companies – Rosgosstrakh Armenia, Ingo Armenia, Nairi Insurance, Reso Insurance, Garant-Limence Armenia, Armenia Insurance, SIL Insurance
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