The financial indicators for all 6 insurance companies in Armenia worsened in 2013.

This conclusion can be reached by examining the insurance companies' interim financial statements of the fourth quarter in 2013. Though interim financial statements are later reviewed and adjusted, some conclusions can be drawn.

Of the 6 insurance companies operating in Armenia, 4 closed 2013 at a loss. These are Rosgosstrakh Armenia (a loss of 440 million AMD), Ingo Armenia (also 440 million AMD), Reso Insurance (260 million AMD), and Sil Insurance (25 million AMD). Only Armenia Insurance and Nairi Insurance recorded a profit (300 million AMD and 200 million AMD, respectively); however, compared to the previous year, their profits decreased by 30–60%. Note, Ingo Armenia and Reso also closed 2012 with a profit, though they recorded losses in 2013. 

The main reason for the arising losses is the sharp increase in compensations to insurance policyholders. In 2013, the overall amount of insurance premiums increased from 31.5 billion AMD to 33.8 billion AMD (that is, by 2.3 billion AMD or 7.3%), whereas the amount of compensation increased from 13.3 billion AMD to 18.1 billion AMD (by 4.8 billion AMD or 36%). 

Insurance companies tried to partly compensate the losses by investment income (by buying mainly bonds), but activity in this area is not yet that great. The greatest investment activity is seen by Ingo Armenia, Rosgosstrakh Armenia, and Reso, with their annual investment income fluctuating between 500 and 600 million AMD.

Among the six insurance companies, Rosgosstrakh Armenia has the highest staff, administrative, and other operating expenses, at about 2.2 billion AMD. But in 2013, this company cutback these expenses somewhat, whereas the other insurers increased them. In second place is Ingo Armenia, spending 1.6 billion AMD on these expenses. 

The compulsory third-party liability motor vehicle insurance (acronym in Armenian: APPA) department comprises about 50–60% of insurance payments. Thus, it cannot be unequivocally claimed that APPA is the main reason for the destabilization of the insurance companies' financial situation. In 2013, insurance companies collected about 16.1 billion AMD in APPA payments and paid out 10.5 billion AMD; in 2012, they collected 15.1 billion AMD and paid out 9.3 billion AMD. That is, in practical terms, APPA didn't have a negative impact on the companies — the losses belong to other classes of insurance; most likely, health and property insurance.

Recall, the Government of the Republic of Armenia in 2013 actively invested in medical insurance, but the mechanism for compensation was changed this year. It's possible that the reason for the change is the insurance companies' dissatisfaction.