It is noted that active sales of MTPL policies and seasonal passivity in the segment payments allowed to improve the overall picture of profits and losses of the insurance sector. The annual GWP dynamics improved and has come to growth (+7.2%), while there was a strong slowdown in the paid claims growth from 32.4% to 4.3%, which made it possible to bring the annual dynamics of net profit from a decline to a significant (more than twofold) growth, with a total profit in 1H2025 achieving AMD 1.95 billion (~EUR 4.32 million).
The leader in net profit is LIGA Insurance (AMD 524.4 million). At the same time, it is worth noting that all insurance companies in Armenia ended 1H2025 with a profit, and three of them (LIGA Insurance, Efes and INGO) managed to get from the red to the black.
According to the 1H results, as expected, the largest shares in GWP were generated by MTPL (38.5%) and health insurance (30.7%), followed by property insurance (11.5%) and Motor Hull (8.3%). In paid claims, MTPL (50.2%) and health insurance (40.7%) also have the largest shares.
In the current assets of the sector, the dominant position is retained by current financial investments (85%), followed by short-term accounts receivable (13.1%). The growth rate of total equity decreased from 13% to 5.5%. It is noted that passivity in replenishment of charter capital has a negative effect on the equity trend, but the situation has been corrected by an improved dynamics of accumulated profit towards growth.
Among the companies, LIGA Insurance holds the leadership in equity and charter capital (USD 19.3 million and USD 11.6 million, respectively), also leading in accumulated profit (USD 7.5 million). The top three in terms of current assets are INGO, LIGA Insurance and Nairi Insurance, in terms of current liabilities - INGO, LIGA Insurance and EFES, in terms of GWP - EFES, Nairi Insurance and LIGA Insurance, and in terms of paid claims - Nairi Insurance, LIGA Insurance and EFES, the source writes.
* 1 EUR = 450.83 AMD (June 30th, 2025)
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