The growth of the loss ratio during this year was observed against the background of deterioration in the annual dynamics of the number of active contracts (from growth to decline), weak growth in premiums, and acceleration of double-digit growth in paid claims (from 11.9% to 23.7%).
According to the Bureau, the number of vehicles with MTPL policies in January-August 2024 increased slightly - by 5.6% y-o-y. During the first 8 months of 2024, GWP collected under current contracts reached AMD 18.9 billion (USD 48.6 million), and paid claims amounted to AMD 13.9 billion (USD 35.9 million).
According to the Bureau, LIGA Insurance has the largest number of vehicles with MTPL policies (165.1 thousand units), and also has the highest MTPL loss ratio at 89%. In terms of the number of vehicles with MTPL policies Nairi Insurance and Sil Insurance rank second and third, whose MTPL loss ratio is 70% and 84%, respectively. The largest GWP under current MTPL contracts is generated by Nairi Insurance and LIGA Insurance (23-22% of the total), and they are also leaders in terms of paid claims in the segment (23-28% of the total), the source writes.
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