ARMENIA: in 2018 MTPL GWP increased by about 5.5% y-o-y, while its loss ratio reached 72.5%

23 January 2019 — Marina MAGNAVAL
MTPL loss ratio in Armenia in 2018 increased from 65% to 72.5%, based on the data of the Armenian Bureau of Motor insurers.

According to the Bureau, as of January 1, 2019 annual growth of the number of vehicles in the country amounted to 2.1%, while the same figure in 2017 was 6.4%. Annual growth of the number of MTPL agreements in 2018 reached 11.4%. From which 1.9% was represented by e-policies. In terms of shares in the total number of MTPL agreements in 2018 the leader is ROSGOSSTRAKH (25.23%), followed by NAIRI Insurance (23.44%), INGO Armenia (22.34%), SIL Insurance (12.29%), Armenia Insurance (8.53%) and RESO (8.17%). In terms of the total number of e-policies the leading company is INGO Armenia (29.05%), second goes ROSGOSSTRAKH Armenia (27.93%) and the third is Armenia Insurance (24.35).

Total volume of MTPL GWP in 2018 amounted to AMD 19.6 billion (+5.5% y-o-y vs. annual growth by 4.9% in 2017). In terms of GWP the leader is again ROSGOSSTRAKH Armenia (26.4%), the second and third places taken by NAIRI Insurance and INGO Armenia (21% and 24% accordingly), and the minimal share in GWP was generated by RESO (7.9%). The average amount of insurance premium in 2018 decreased by 5.3%, and the average amount of MTPL paid claim, to the contrary, went up by 5%.

MTPL paid claims in 2018 exceeded AMD 13.9 billion (+16.8% y-o-y). The leader in terms of paid claims is ROSGOSSTRAKH Armenia (27.8%), as ArmInfo wrote.

*EUR 1 = AMD 553.65 (31.12.2018)

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