The decline in the loss ratio in 2025 was underpinned by a positive trend in the number of active contracts (from a decline of 0.7% to an increase of 8.3%), accelerated GWP growth from 9.3% to 17.5%, and a slowdown in claims growth from 20.3% to 8.4%. It is noted that a significant increase in MTPL rates has been recorded since February 2025, allowing insurance companies to significantly improve their efficiency.
According to the Bureau, the number of vehicles with MTPL policy rose more significantly in 2025, by 3.2% (vs 1.1% in 2024). Furthermore, the share of e-policies in the total number of MTPL policies increased from 31% to 35% in 2025.
By the end of 2025, GWP collected under existing insurance policies exceeded AMD 34.9 billion (USD 91.6 million), while paid claims amounted to AMD 23.7 billion (USD 62.1 million).
According to the Bureau's data for 2025, Nairi Insurance and INGO generate the largest MTPL GWP – AMD 6.9–6.2 billion (20–18% of the segment). While Nairi Insurance and Armenia Insurance lead in terms of paid claims with almost equal volumes – AMD 4.6–4.5 billion (19.4–19.2% of the total). In terms of the number of existing MTPL policies, REGO Insurance and Armenia Insurance are the leaders – 285,800 and 261,600 units, respectively (20% and 18% of the total).
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