Six Armenia-based insurance companies paid a total of 3.4 billion drams in 16,423 car insurance compensation claims in the first five months of this year, a decrease of 16% compared to the first five months of 2014, a statement posted on the official website of Armenia's Car Insurers' Bureau says.

According to the statement, the leading company by size of paid insurance claims was Rosgosstrakh - Armenia -1.274 billion drams. Ingo Armenia was second with about 739.5 million drams. Sil Insurance was third with 365 million drams, Reso was fourth with 361.6 million drams, Nairi Insurance paid 340 million drams and Armenia Insurance paid 248 million drams. The average compensation claim in 2015 May was 209,000 drams, according to the statement.

At the end of May 2015 there were 434,000 insured vehicles in Armenia, by 1,600 more from the previous month.

Only 369 compensation claims were turned down in January-May 2015, according to the statement.  The payment of another 61.4 million drams worth compensations is still underway, it said.  

The mandatory insurance against physical damage caused to other cars and individuals became mandatory in Armenia on January 1, 2012. Read the full story ARMENIA: insurers paid AMD 3.4 billion in 16,423 car insurance compensation claims in 5 months