This growth was supported by some deterioration in the annual dynamics of the number of active contracts (from growth by 14.6% to a decline of 1.6%), moderate growth in insurance premiums and acceleration of double-digit growth in paid claims (from 11.6% to 23.6%).
According to the Bureau, the number of vehicles with MTPL policies increased slightly in January-July 2024 (+5.8%).
In January-July, GWP collected under current contracts reached AMD 16.2 billion (USD 41.9 million), while paid claims exceeded AMD 11.9 billion (USD 30.8 million).
It is noted that since April 2023, Armenia launched transition to liberalization of MTPL tariffs, and after a quarter, an increase in the loss ratio began to be observed.
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