Insurance coverage in Armenia will reach 80% in 3 years if work in this direction begins on January 1, 2026, as stated by Armenian Health Minister Anahit Avanesyan, ArmInfo writes.

On the Armenian insurance market, the MTPL loss ratio has been declining in 2025 - in March it was 77.5% (vs 90.8% last year), according to the data of the Armenian Bureau of Motor Insurers, ArmInfo reports.

The Armenian government will assume the role of reinsurer under the agricultural insurance program in 2025, as stated by Armenian Minister of Economy Gevorg Papoyan, ArmInfo reports.

The net profit of the insurance sector in Armenia, after a 4.5-fold jump in 2022, began to decline in 2023, remaining in this trend in 2024 with a little slowdown in rate from 33% to 26%.

In 2024 the insurance market of Armenia practically did not grow - the growth was less than 2%, total GWP reached AMD 72.37 billion (EUR 174.86 million), as shown by the data of the Financial Rating of Insurance Companies provided to ArmInfo. It’s worth noting that in euro the market grew by 10.29% thanks to a more favorable exchange rate compared to 2023.

For the second year in a row, LIGA Insurance tops the list of major taxpayers in Armenia among insurance companies. According to the State Revenue Committee data for January-December 2024, LIGA Insurance ranks 453^rd (vs 384^th a year earlier) on the list, having paid AMD 734.7 million (~EUR 1.92 million) to the state budget, ArmInfo reports.

In 2024, MTPL loss ratio in Armenia increased from 71.7% to 81.8% driven by deterioration in the annual dynamics of the number of active contracts - from a 11.7% increase a year earlier to a 0.7% decline, moderate GWP growth and double-digit growth in paid claims, according to data from the Bureau of Motor Insurers of Armenia, ArmInfo writes.

The MTPL loss ratio continues to grow on the Armenian insurance market, reaching 81.5% in December of this year (vs 70% a year earlier), ArmInfo writes based on data from the Armenian Bureau of Motor Insurers.

The MTPL loss ratio in the Armenian insurance market reached 81.1% as of November 1, 2024 (vs 68.2% a year ago), according to data from the Armenian Bureau of Motor Insurers, ArmInfo reports.

At the end of 3Q2024, against the backdrop of deteriorating premium dynamics, insurers' profit from investment activities barely maintained double-digit growth, while the pace slowed significantly from 36.5% to 15.5%, ArmInfo reports.

At the end of 3Q2024, the insurance sector of Armenia decreased by 1.50%, amounting to AMD 54.20 billion (EUR 125.09 million), according to the data of the Financial Rating of Insurance Companies provided to ArmInfo.

German KfW Development Bank is ready to provide funds, and the state will co-finance the agroinsurance program. According to the Armenian Minister of Economy Gevorg Papoyan, negotiations with the reinsurer are already underway, ArmInfo writes.

From January to September 2024, Armenian insurers paid taxes in the amount of AMD 1.7 billion (USD 4.4 million), which is 6.3% higher y-o-y in local currency, ArmInfo writes with reference to the data of the State Revenue Committee of the Republic of Armenia.

Introduction of universal health insurance (UHI) in Armenia in 2025 is not planned, as the Minister of Finance of Armenia Vahe Hovhannisyan stated in the parliament on November 1, since the draft budget for next year does not include a corresponding expenditure item, ArmInfo reports.

As of September 1, 2024, MTPL loss ratio in Armenia reached 79.1% (from 65% last year), ArmInfo writes with reference to data from the Bureau of Motor Insurers of Armenia.

According to the Bureau of Motor Insurers of Armenia, from September 18, the maximum damage threshold for the European Accident Statement will be increased to AMD 400,000 (~EUR 940) from the previous AMD 200,000, ArmInfo writes.

As of August 1, 2024, the MTPL loss ratio in Armenia increased to 79.3% from 64% a year ago, АrmInfo reports with reference to data from the Bureau of Motor Insurers of Armenia.

According to the 1H2024 results, amid the deteriorating premium dynamics, insurers' investment income continues to grow at double-digit rates, remaining at 27% for the second year in a row, ArmInfo writes.

In the first half of 2024 the insurance sector of Armenia decreased by 6.32% to AMD 38.67 billion (EUR 93.04 million), according to the data of the Financial Rating of Insurance Companies provided to ArmInfo. At the same time, paid claims skyrocketed by 31.65% to AMD 20.55 billion (EUR 49.44 million).

In Armenia, Ingo insurance company has introduced a completely new product for the Armenian financial market – income protection insurance, ArmInfo reports.