The Central Bank of Armenia (CBA) has released the profiles of insurance companies by October 1, 2010. Keener interests in the Armenian insurance market has been observed since compulsory car insurance took effect in the country.

By October 1, the assets of ten insurance companies had totaled U.S. 19.7 billion AMD (about U.S. $55). It is noteworthy that insurance companies are expected to receive about 12 billion AMD (about U.S. $35 million) during the next 2-3 months. The calculations are based on the following information: 400,000 cars are registered in Armenia, the average insurance premiums being 30,000 AMD (about U.S. $85).

Since insurance indemnities never exceed 30% of insurance premiums, the insurance companies’ prospective profits from compulsory car insurance defy imagination.