MTPL loss ratio on the Armenian insurance market has been declining since the beginning of 2025, amounting to 73.2% in January-May (vs 79.7% a year earlier), according to data from the Armenian Bureau of Motor Insurers, ArmInfo reports.

It is noted that the decline in the loss ratio in the reporting period was observed against the background of an improvement in the annual dynamics of the number of active contracts from a 1%-decline a year earlier to an increase of 6.8%, acceleration in the GWP growth from 3% to 16%, and weakening in the paid claims’ growth from 25.1% to 5.1%.

According to the results of January-May 2025, GWP collected under current contracts exceeded AMD 13.1 billion (USD 34.1 million), while total paid claims reached AMD 9.02 billion (USD 23.5 million).

According to the Bureau's data for January-May 2025, Armenia Insurance covers the largest number of vehicles with an MTPL policy (over 18% of the market), MTPL loss ratio of which increased to 81% (from 70% a year earlier). The former leader LIGA Insurance ranks second (its loss ratio decreased to 72% from 90%). The largest GWP under current MTPL contracts has been collected by Nairi Insurance and Armenia Insurance (21-20% of the total), which are also leaders in terms of paid claims in the segment.

Transition to liberalization of MTPL tariffs started in April 2023 in Armenia, and within a quarter the loss ratio in the segment began to grow. This trend continued until 2025, the source added