Armenia's insurance sector totaled AMD 21.46 billion (EUR 49.67 million) in the first quarter of 2026, up 2.57% year-on-year. In European currency, market growth was rather modest (+0.56%). Paid claims, however, saw double-digit growth (+23.11%), reaching AMD 12.63 billion (EUR 29.23 million), according to data of the Financial Rating of Insurance Companies provided by ArmInfo.

The key market segment is motor insurance (Motor Hull and MTPL, summed), the share of which in the market portfolio increased to 52.45%. Total GWP in motor insurance rose by almost 20%.

Among the major insurance segments with double-digit market shares, health and property insurance are noteworthy. However, both segments recorded double-digit premium declines in the first quarter.

Net profit in the insurance sector increased by 77.4% year-on-year in the first quarter (vs 82.3% growth a year ago), reaching AMD 1.4 billion (USD 3.8 million). This was the result of a continued impact of tariff increases, established a year ago, which led to an uptrend in premium and claim dynamics, according to the Financial Rating of Armenian Insurance Companies.

Among the seven insurance companies operating in the market, Efes secured the lead in terms of GWP (AMD 4.2 billion), followed by Nairi Insurance (AMD 3.8 billion), with Nairi Insurance leading the market in terms of claims paid. LIGA Insurance rounds out the top three in terms of GWP (AMD 3.4 billion).

Access xprimm.com and download the latest Armenian insurance market statistics for 1Q2026 in AMD and EUR.