This trend coincides with an acceleration in the annual growth rate of active policies (from 7.8% to 9.6%) and GWP (from 17.5% to 17.8%), alongside a more significant rise in paid claims—from 6.6% to 18.7%, reports ArmInfo.
Experts note that MTPL prices are rising, allowing insurance companies to offset inflationary risks driven by general inflation and, specifically, increasing cost of spare parts.
According to the Bureau of Motor Insurers of Armenia, the number of vehicles with MTPL policies is showing modest y-o-y growth of 6.8% (vs 8.1% a year earlier).
During the first eight months of 2026, GWP collected under active MTPL policies reached AMD 26.1 billion (USD 71.6 million), while paid claims totaled AMD 17.6 billion (USD 48.2 million).
Bureau data shows that REGO Insurance holds the largest share of vehicles with MTPL coverage (over 19% of the market). Notably, the company's MTPL loss ratio rose y-o-y from 68% to 74%. The highest MTPL loss ratio was recorded by INGO at 80% (up from 76% a year earlier), while the lowest was seen at Nairi Insurance—64% (down from 65%).
Nairi Insurance and REGO Insurance generate the largest MTPL GWP —over AMD 5 billion and AMD 4.6 billion, respectively (representing 19% and 18% of the market), the source added.
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