According to the Bureau of Motor Insurers of Armenia, the number of vehicles with MTPL policy increased in January-April 2022 by 11.1% y-o-y (vs 5.5% in the same period in 2019). In quantitative terms, by May 2022, there were already 587,297 such vehicles, ArmInfo reports.

Resumption of growth was also observed in terms of the number of MTPL contracts concluded. During the reporting period, annual growth accelerated to 18.7%, and in quantitative terms, in January-April 2022, more MTPL contracts were concluded than in the same period in 2019 (335,506 thousand vs 312,672 thousand). GWP increased by 20.6%, exceeding AMD 7.5 billion (EUR 15.64 million).

Paid claims in the segment for the period amounted to AMD 4.97 billion, which is 15% less y-o-y. MTPL loss ratio decreased in January-April 2022 to 67% from 86% in 2021, which is even lower than the pre-Covid level of 73% in 2019.

ROSGOSSTRAKH Armenia holds the leadership in terms of its share in the market GWP - 30.7%, and in terms of its share in paid claims - 32.45%. The second position is held by NAIRI Insurance.

*EUR 1 = AMD 479.32 (01.05.2022)