ArmInfo.Four insurance companies—INGO, LIGA Insurance, Nairi Insurance, and SIL Insurance—were included in the list of Armenia's 1000 largest taxpayers for the first quarter of 2026, according to data from the State Revenue Committee.
During the reporting period, the Armenian insurance sector increased its tax contributions to the state budget by 61.7% year-over-year, transferring a total of 664.3 million drams. Of this amount, 530.2 million drams were paid in direct taxes, representing a 62.5% annual increase. INGO Insurance (formerly INGO Armenia) improved its ranking over the year, moving from 515th to 407th place. The company contributed 210 million drams to the state budget, 171.5 million drams of which were direct taxes.
LIGA Insurance climbed from 438th to 435th place, with total tax payments of 198.9 million drams, including 162.9 million drams in direct taxes. Nairi Insurance entered the list this year at 634th place, contributing 138.5 million drams to the state budget, with 104.1 million drams in direct taxes. SIL Insurance also improved its position among the top 1000 taxpayers, moving from 962nd to 765th place. The company paid 116.8 million drams, of which 91.7 million drams were direct taxes. The companies Armenia Insurance, REGO Insurance, and EFES did not make the top 1000 list for this period.
Recall, in Q1 2025, Armenia's insurance sector reduced tax payments to the state treasury by 7% annually, transferring 410.7 million drams to the budget, 326.2 million of which were direct taxes (a 9.3% year-on- year decline). LIGA Insurance led the way, followed by INGO and SIL Insurance. The remaining four insurance companies were absent from this list: Nairi Insurance, Armenia Insurance, REGO Insurance, and EFES.
Meanwhile, according to the Financial Ranking of Armenian Insurance Companies as of March 31, 2026, prepared by ArmInfo IC, all seven insurance companies operating in the country concluded the first quarter with a profit. Notably, one of them (SIL Insurance) managed to swing its performance from a loss to a profit. The sector's total pre-tax profit (balance sheet profit) reached 1.8 billion drams ($4.7 million) for the first quarter, with its annual growth rate accelerating from 85.7% to 90.7%. After-tax net profit amounted to 1.4 billion drams ($3.8 million), though its year-over-year growth slowed slightly from 82.3% to 77.4%. Ranking by Net Profit (Q1 2026) INGO (Leader) Nairi Insurance Armenia Insurance REGO Insurance LIGA Insurance SIL Insurance EFES (Note: The exchange rate of the Armenian Dram to the USD as of March 31, 2026, was AMD 377.16 $1).
