It is noted that the decline in the reporting period was observed against the background of an improvement in the annual dynamics of the number of active contracts from a decline to a growth of 7.9%, an acceleration in the GWP growth from 5.6% to 17.4%, and a weakening in the growth of paid claims from 23.6% to 7.4%.
According to the Bureau, the number of vehicles with MTPL policies increased by only 4.7% y-o-y (vs 5.8% a year earlier). It’s worth noting that in the total number of MTPL contracts, the share of e-policies rose from 32% to 36% over the year.
In January-July 2025, total MTPL GWP collected under current contracts reached AMD 19.1 billion (USD 49.8 million), while paid claims exceeded AMD 12.8 billion (USD 33.4 million).
According to the Bureau's data for January-July 2025, the largest number of vehicles with an MTPL policy is now covered by INGO (almost 18% of the market), MTPL loss ratio of which increased from 72% to 75% over the year. Nairi Insurance ranks second in terms of the number of vehicles with an MTPL policy, and its MTPL loss ratio decreased from 67% to 65% over the year. At the same time, the highest MTPL loss ratio in the reporting period was recorded by Armenia Insurance (83% vs 74% a year ago). The largest share in GWP under current MTPL contracts is collected by Nairi Insurance and INGO (20-19% of the total), while in terms of MTPL paid claims, Armenia Insurance and Nairi Insurance are leading (21-20% of the total), the source added.
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