The decline in the loss ratio was observed against the backdrop of accelerated annual growth in the number of effective contracts from 7.6% to 9.2%, GWP from 16.8% to 19.1%, and a more significant increase in paid claims, from 6.1% to 18.3%.
It is noted that the loss ratio has been declining since May of this year, following growth over the previous four months, while throughout 2025, it declined from 81.8% to 76.3%, according to data from the Armenian Motor Insurers Bureau.
Experts note that the cost of MTPL policies is rising, allowing insurance companies to offset inflation risks amid rising inflation in general, as well as rising spare parts prices in particular.
According to the Bureau, the number of vehicles with MTPL policies is growing moderately – by 6.7% (vs 3.5% a year ago). The share of e-policies increased y-o-y from 36% to 38%.
In the first half of 2026, MTPL GWP reached AMD 19.1 billion (USD 51.9 million), while paid claims exceeded AMD 12.8 billion (USD 34.9 million).
The data from the Bureau shows that REGO Insurance covers the largest number of vehicles with MTPL policies (over 19% of the market). At the same time, this company's MTPL loss ratio rose y-o-y from 68% to 74%. INGO has the highest MTPL loss ratio (79%), while Nairi Insurance has the lowest (60%).
Nairi Insurance and REGO Insurance generate the largest MTPL GWP – over AMD 3.6–3.35 billion (19–18% of the total). INGO and Nairi Insurance continue to lead in payments with AMD 2.5–2.2 billion (19–17% of the total), the source added.
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