In the first quarter of 2025, the insurance market of Armenia grew by 8.62%, amounting to AMD 20.92 billion (EUR 49.39 million), according to the data of the Financial Rating of Insurance Companies provided to ArmInfo.

Of the largest insurance segments, which have double-digit shares in the GWP portfolio, it is worth noting a significant decrease in health insurance - by almost 21%, thus its share in the total premiums fell from 40.65% to 29.60%. Now the leader in the market portfolio is MTPL (share 37.31%). In this segment, insurers collected AMD 7.80 billion. In third place in terms of market share is property insurance against fire and allied perils (16.20%). Interestingly, it was this segment that grew the most y-o-y - by almost 94%.

It is noteworthy that at the end of the first quarter, insurers' paid claims slightly decreased by 0.15% and amounted to AMD 10.26 billion (EUR 24.22 million). Among the segments, the leader in terms of paid claims reduction is property insurance against fire and allied perils (-87%).

Of the 7 companies operating on the Armenian insurance market, EFES has become the leader in terms of GWP (AMD 5.12 billion). The growth rate of this insurer is impressive - an increase of 187.49% y-o-y. The former leader - LIGA Insurance moved to the second position (AMD 3.51 billion). NAIRI Insurance also moved from second to third place according to the 1Q results.

Access xprimm.com and download the latest Armenian insurance market statistics for 1Q2025 in AMD and EUR.