Sun, 6 April
6.1 C
Yerevan
USD: 391.22 RUB: 4.63 EUR: 431.28 GEL: 142.08 GBP: 508.39
spot_img

Mergers and portfolio handovers expected in Armenian insurance market in 2016-2018

YEREVAN, August 25. /ARKA/. The number of insurance companies in Armenia is expected to reduce over a period between 2016 and 2018 because of mergers or portfolio handovers, the Central Bank of Armenia says in its report ‘Possible Developments of Armenia’s Banking Sector in 2016-02018’ based on programs of prospective development of Armenian insurance companies.

According to the report, several flagship companies will continue operating at the country’s insurance market, while other companies will occupy lower-level niches here.

New types of obligatory insurance will be introduced in Armenia, particularly mandatory medicare insurance.

Prices at the insurance market will be driven down by the growing competition among insurance companies.

A stage-by-stage introduction of the institution of insurance actuaries is expected in Armenia in 2016-2018.

Insurance companies don’t rule out that the central bank will make some changes in legal acts in 2016-2018.

Armenian insurance companies’ assets totaled AMD 40.2 billion in late June 2016 after growing 3.5% since the beginning of the year and liabilities AMD 22.1 billion showing a2% decline.

Their capital amounted to AMD 18 billion (11% growth).

As many as six insurance companies operate in Armenia now. ($1 – AMD 474.25).  –0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img