In the Armenian insurance market, MTPL loss ratio, after declining throughout 2025 from 81.8% to 76.3%, has begun to rise since 2026, reaching 79.6% by the end of the first quarter (vs 79% in 1Q2025), according to data from the Armenian Bureau of Motor Insurers, ArmInfo reports.

The increase in the first quarter of 2026 was observed against the backdrop of accelerated annual growth in the number of active contracts from 5.1% to 7.9%, GWP growth from 13.7% to 18%, and accelerated growth in claims from 4.3% to 20.4%.

According to the Bureau, the number of vehicles with MTPL policies grew significantly year-on-year, by 4.7%, vs only 2.1% a year earlier. The share of e-policies in the total number of MTPL agreements rose from 36% to 39%.

By the end of the first quarter of 2026, GWP collected under existing policies exceeded AMD 9.2 billion (USD 24.5 million), while paid claims reached AMD 6.8 billion (USD 18 million).

According to the Bureau, INGO covers the largest number of vehicles with MTPL policies (approximately 19% of the market). This same company also recorded the highest MTPL loss ratio for the reporting period, at 88% (vs 67% a year earlier), while Nairi Insurance had the lowest, at 71% (vs 72% in 1Q2025).

The largest GWP contribution in MTPL is provided by INGO and Nairi Insurance – AMD 1.8-1.7 billion (20-19% of the total), and these same insurance companies are leading in MTPL paid claims – AMD 1.3-1.2 billion (19-18% of the total), the source added.