The annual growth of all MTPL policies for the first two months of the current year was 5.9%, the afferent GWP increasing by 6.8% to AMD 3.3 billion (~EUR 6.24 million). The average premium suffered almost no change y-o-y (+0.9%), mainly due to discounts offered for buying MTPL policies online, analysts say.
Total number of claims increased by 1.3% y-o-y in January-February, while their pecuniary amount climbed 10.6%, to AMD 2.8 billion. At the same time, MTPL loss ratio for the first two months of 2020 reached 68%, significantly less than the level of the ratio for January-February 2019 (75%).
According to the Bureau, the total number of vehicles insured under MTPL increased by 13.4% y-o-y for the first two months of 2020, to 576,449 units, and the largest part of them being insured by ROSGOSSTRAKH Armenia (183,816 vehicles).
* EUR 1 = AMD 528.57 (as of March 1st, 2020)