YEREVAN, July 11. /ARKA/. Armenia’s insurance companies have paid AMD 4.3 billion as compensations to 22,424 vehicle owners who had mandatory car insurances in the first five month of this year, an increase of 18.8%, compared with the first four months, according to a statement on the official website of the Car Insurers Bureau.
There were more than 371,900 insured vehicles in Armenia in late May 2013 – 0.14% more than one month earlier, and 22,471 applications for compensations – 23.6% month-on-month growth. Some 203 of these applications were declined, and payment of compensations totaling AMD 150.5 million is under way now (9.4% growth).
Insurance premiums totaled about AMD 8.9 billion in late May after growing 8.5% over the month.
Five insurance companies function in Armenia now.
The obligatory car insurance was instituted in Armenia on January 1, 2011. The country’s insurance market is under the central bank’s control. ($1- AMD 410.70). -0—
