Newly released market study: The Insurance Industry in Armenia, Key Trends and Opportunities to 2019

From: Fast Market Research, Inc.
Published: Tue Jun 28 2016

Timetric's 'The Insurance Industry in Armenia, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Armenian insurance industry, including:

* The Armenian insurance industry's growth prospects by segment and category
* A comprehensive overview of the Armenian economy and demographics
* The detailed competitive landscape in the Armenian insurance industry
* The various distribution channels in the Armenian insurance industry
* Details of regulatory policy applicable to the Armenian insurance industry
* Analysis of natural hazards in Armenia

Report Highlights

Full Report Details at

* Despite economic challenges, limited product variety and an absence of life insurance, the industry posted a review-period CAGR of 40.0%.

* In December 2015, the Armenian Motor Insurers' Bureau formally applied to join the Green Card International Motor Insurance System. Over the forecast period, the system is expected to benefit motorists by proving insurance cover for the victims of road traffic accidents outside Armenia.

* In 2014, a government decision to take part of mandatory health insurance premiums paid by state employees affected private health insurers, which had already established health infrastructure such as clinics and medical centers in the country.
* Changes in the regulatory framework, such as implementation of compulsory third-party motor insurance in 2010, export credit insurance in 2013, a bonus-malus system for motor insurance from 2013, and compulsory pension insurance in 2014 led to the structural changes and resulted in mergers and acquisitions during the review period.
* Growth in the country's economy, healthcare reforms and aligning compulsory insurance classes with Eurasian Economic Union members will drive the industry over the forecast period.
* The prominent expansion strategies adopted by Armenian insurers are extending to other less penetrated African countries such as Cameroon, Western Sahara and Algeria, among others, by either acquiring local businesses or setting up own branches and distribution channels.

Report Scope

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 2010-2014 review period, and projected figures for the 2014-2019 forecast period.
* It offers a detailed analysis of the key segments in the Armenian insurance industry, with market forecasts to 2019.
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
* It analyzes the various distribution channels in Armenia.
* It profiles the top insurance companies in Armenia and outlines the key regulations affecting them.

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