ArmInfo. In Q1 2016, the premiums of the Armenian insurance companies grew by 6.7% versus Q1 2015, while the payouts dropped by 1.9%. By 1 April 2016, the aggregate amount of insurance premiums totaled 9.5 bln AMD, while the payouts exceeded 3.2 bln AMD (the figures are given from the insurance companies' reports according to the IFRS standards).

ArmInfo.

ArmInfo. A system of independent registration of MTPL insurance events below 50,000 AMD by drivers comes into effect today, on March 4 2016. The Bureau of Motor Insurers told ArmInfo, the new process implies a facilitated and prompt mechanism of indemnity payment by an insurance company. Along with this, the Bureau has updated the procedure of contractual relations with expert organizations for insurance events below 50,000 AMD: the terms of repeated examinations have been reduced to 3 working days and the payment for the examination was reduced to 5,000 AMD.  A repeated examination looks to protect the rights of the MTPL insurance event affected party. It is conducted in the cases when the aggrieved persons disputes the examination result of their insurance company concerning the guilty and/or damage level.

ArmInfo.

ArmInfo. Armenia has applied for joining Green Card international motor insurance card system, Vahan Avetisyan, Executive Director of the Bureau of Motor Insurers, told ArmInfo. He said the application for membership has been accepted and Armenia is expected to undergo a long procedure of admission (1-2 years).

ArmInfo. Armenia's insurance market saw a record-breaking net profits for the last five years - 2.5bln drams ($5.2mln) in 2015, with a 71% year-on-year profits.

ArmInfo. From now on, a MTPL insurance event below 50,000 AMD can be settled upon mutual consent of drivers without calling an insurance officer. Arthur Javadyan, the head of the Armenian Central Bank, made such a suggestion at the Government on February 18.  He said drivers can just inform their insurers of the road accident, sign a joint manifesto and enclose photos of the accident to it and send it to the insurance company.

ArmInfo. Bureau of Motor Insurers of Armenia suggests including the period of delay with MTPL policies into the credit history car owners, Vahan Avetisyan, the Executive Director of the Bureau of Motor Insurers told a news conference on February 2.

ArmInfo. The loss ratio of the motor third-party liability insurance (MTPL) for 2015 totaled 53% versus 55.1% in 2011 when the system was introduced, according to data of the Bureau of Motor Insurers. In 2014, this indicator totaled 59.8%, while in 2012-2013, this indicator reached 74.8% and 77%.

ArmInfo. Insurance companies account for 80% or 176.7 million drams of total compensations paid to privates in 2015 through mediation of financial ombudsperson, Piruz Sargsyan, financial mediator/ombudsperson of Armenia, told a news conference today, on January 25.  She said most of the complaints submitted to the Financial Ombudsperson's Office are over the motor third-party liability insurance (MTPL), which is the most disputable issue for both the financial organizations and individuals.

ArmInfo.

ArmInfo. Yerevan, December 18. ArmInfo. Gayane Isahakyan. Rosgosstrakh Armenia pays the major part of indemnities on the insurance market of Armenia, according to the official data posted on the website of the Armenian Motor Insurers' Bureau.   

ArmInfo. Rosgosstrakh Armenia Insurance Company made over 1 million motor third party liability (MTPL) policies by October 1, 2015. It is the only insurance company in Armenia to make its one-millionth MTPL policy.  According to Rosgosstrakh Armenia press- office, this fact speaks of the high level of consumer trust that company has been enjoying during the five years of its operation in the country. 

ArmInfo. Armenia already has preconditions for introducing life assurance, Director of Institute of Economics and Business at the RAU, former Ministr of Economy, Dr. (Economics), Professor Edward Sandoyan told ArmInfo's correspondent. 

ArmInfo. 

ArmInfo. The insurance policy for the four classes is now possible to register, pay for and acquire in the VTB Armenia Bank, which is MTPL, insurance of real estate and property, health insurance, accident insurance. These are the insurance policies with a convenient and popular set of conditions, risks and sums insured. Convenience for the customer is that there is now no longer needed to go to the office of the insurance company for registration.

ArmInfo.A single Central Bank (regulator) may be established within the Eurasian Economic Union, Danil Irayev, a minister of the Eurasian Economic Commission, told an online news conference.

Aiming at increasing service quality in the phase of application regulation and reimbursements "ROSGOSSTRAKH ARMENIA" insurance company has carried out restructuring and regulation revision, the company press-office has informed ArmInfo. Due to these reformations the company has significantly shortened the dates of OSAGO reimbursement.  

Deputy CEO at Sil Insurance Company Levon Mamikonyan’s interview to ArmInfo News Agency specially for Xprimm magazine