The MTPL loss ratio continues to grow on the Armenian insurance market, reaching 81.5% in December of this year (vs 70% a year earlier), ArmInfo writes based on data from the Armenian Bureau of Motor Insurers.

The growth of the loss ratio in 2024 is due to deterioration in the annual dynamics of active contracts (a decline of 0.8%), moderate growth of premiums (9.4%), and double-digit growth of paid claims (21.9%).

According to the Bureau, the number of vehicles with MTPL policies increased by only 1.7% in January-November 2024, while a year ago the growth was 9.9%.

According to the results of 11 months of 2024, GWP collected under current MTPL contracts amounted to AMD 26.6 billion (USD 67.4 million), while paid claims exceeded AMD 19.9 billion (USD 50.5 million).