ARMENIA: average MTPL loss ratio increased to 64.5%
According to the Financial Ranking of insurance companies of Armenia, prepared by ArmInfo, GWP of the segment saw an increase by 7.7% y-o-y vs the decline by 2.1% a year ago, and growth of paid claims amounted to 12.3% (vs 11.2% in 1Q2018).
As of April 1, 2019, ROSGOSSTRAKH Armenia remains the leader of the segment in terms of GWP. The insurer's GWP went up by 6.5% y-o-y, while paid claims increased by 22.5%. The second place in terms of GWP was taken by INGO Armenia, which demonstrated the highest GWP growth in the market (+42%). The highest growth of MTPL paid claims was recorded by Armenia Insurance (+37%). NAIRI Insurance had the only decline in MTPL GWP among 6 companies (-25.1%), and the only decline in paid claims was recorded by RESO (-27.2%).
The average loss ratio in Motor Hull in the first quarter decreased and amounted to 60% (vs 66.4% a year ago).