The decline in the loss ratio during the reporting period was observed against the backdrop of an improvement in the annual dynamics of the number of active contracts - from a decline of 0.7% to an increase of 8.1%, an acceleration in the GWP growth - from 8.1% to 17.8%, and a slowdown in the growth of paid claims - from 22.7% to 8.3%. It is noted that since February of this year, MTPL tariffs have significantly increased, allowing insurance companies to substantially improve their efficiency.
According to the Bureau, the year-on-year growth in the number of vehicles with MTPL policies was modest – 4.7% (vs 5.4% last year). The share of e-policies in the total number of MTPL contracts increased from 32% to 36% over the year.
From January to September 2025, MTPL GWP reached AMD 25.1 billion (USD 65.6 million), while paid claims exceeded AMD 16.9 billion (USD 44.3 million).
According to the Bureau's data for January-September period, Nairi Insurance now covers the largest number of vehicles with MTPL policies (over 18% of the market), at the same time its MTPL loss ratio decreased from 70% to 66% (the lowest in the market) over the year. Armenia Insurance recorded the highest MTPL loss ratio during the reporting period (81% vs 72% a year ago). Nairi Insurance and INGO collected the largest volume of premiums in MTPL (20-18% of the total), while Armenia Insurance and Nairi Insurance lead in terms of MTPL paid claims, with nearly equal volumes (20-19.5% of the total).
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