About 3.3bln drams paid in car insurance compensation in Armenia in January-April

26.05.2014 13:55
About 3.3bln drams paid in car insurance compensation in Armenia in January-April

YEREVAN, May 26. /ARKA/. Armenia’s insurance companies paid about 3.3 billion drams in a total of 17,824 compensations on compulsory third-party motor insurance in January-April 2014, a decrease of 8.2% compared to the same period of the year before.

In the reporting period, Rosgosstrakh-Armenia accounted for the highest amount of compensation – 1,271.5 million drams, the Bureau of Car Insurers of Armenia reported.

Compensations by Ingo Armenia totaled about 641.2 million drams and those by Reso exceeded 421.2 million drams. Payments by Nairi Insurance were 361.3 million drams, by Sil Insurance – 341.5mln drams, by Armenia Insurance – 223.5mln, by Garant Insurance – 42.9mln. Compensations by the Bureau of Car Insurers of Armenia totaled 45.7 million drams.

A total of 3,999 claims worth about 744 million drams were satisfied in March only; average compensation amount was 189,553 drams.

As of the end of April 2014, a total of 440,537 motor vehicles were insured in the country, 2,725 more than in the month before.

According to the Bureau, number of claims exceeded 17,304 in January-April, of them 312 were not satisfied.

Apart from this, claims worth a total of 114.486 million drams (16.7% reduction compared to the year before) are still pending.

Insurance bonuses rose by 0.5% in January-April to about 8.3 billion drams.

There are seven companies operating in the Armenian insurance market today.

The compulsory third-party motor insurance was introduced in Armenia on January 1, 2011.
The Central Bank of Armenia has been performing supervision functions in the insurance market since January 1, 2006. ($1=413.31drams). –0–


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