It is noted that this decrease was observed against the background of an imperceptible weakening of the annual growth in the number of active contracts from 2.4% to 2.1%, an improvement in the GWP dynamics to an increase of 11.7%, and a change in the dynamics of paid claims from double-digit growth (37.8%) to a decline of 1.1%.
According to the Bureau, the number of vehicles with MTPL policies increased slightly y-o-y (by only 1.4%), while a year ago the growth was 8.8%. In the total number of MTPL contracts, the share of e-policies increased from 32% to 35% over the year.
According to the January-February 2025 results, GWP collected under current contracts exceeded AMD 5.2 billion (USD 13.3 million), and paid claims reached AMD 3.8 billion (USD 9.6 million).
The Bureau noted that LIGA Insurance has the largest number of vehicles with MTPL policies, while the company’s MTPL loss ratio decreased to 76% (from 102% a year earlier). Armenia Insurance ranks second in terms of the number of vehicles with MTPL policies, its MTPL loss ratio also decreased to 77% (from 82% a year earlier). At the same time, the highest MTPL loss ratio in the reporting period was recorded by Sil Insurance - 90% (vs 99% a year earlier), this company ranks third by the number of vehicles with MTPL policies.
At the same time, the largest GWP under current MTPL contracts is generated by Nairi Insurance and Armenia Insurance (21-20% of the total), which are also leaders in terms of MTPL paid claims.
Since April 2023, Armenia started transition to liberalization of MTPL tariffs, and within a quarter the MTPL loss ratio began to grow. This trend continued until 2025, the source added.
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