This decline in the loss ratio in the reporting period was observed against the backdrop of an acceleration in the y-o-y growth in the number of active contracts from 0.01% to 5.1%, an improvement in the GWP dynamics from a decline of 0.7% a year earlier to a growth of 13.7%, as well as a sharp slowdown in the growth of paid claims from 30.7% to 4.3%.
According to the Bureau, the number of vehicles with MTPL policies increased slightly y-o-y - by 2.1%, while a year ago the growth was 8%. In the total number of MTPL contracts, the share of e-policies increased from 33% to 36% over the year.
The 1Q2025 results show that GWP collected under current contracts exceeded AMD 7.8 billion (USD 20 million), while paid claims reached AMD 5.7 billion (USD 14.4 million).
The Bureau noted that the largest number of vehicles with MTPL policies are now covered by Armenia Insurance - 133,934 thousand units, whose MTPL loss ratio increased to 88% (from 75% a year earlier), this is the highest MTPL loss ratio among insurance companies in the reporting period. In terms of the number of vehicles with MTPL policies LIGA Insurance ranks second - 128,453 thousand units, whose MTPL loss ratio decreased to 75% (from the record 96% a year earlier).
The largest GWP amount under current MTPL contracts is generated by Armenia Insurance and Nairi Insurance – AMD 1.8-1.6 billion (22-20% of the total), which are also leaders in terms of paid claims in the segment – AMD 1.2 billion each (21% of the total), the source added.
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