MTPL loss ratio may amount to 70% by the end of 2018, said ArmInfo with reference to the market forecast of the General Manager of the Armenian Bureau of Motor Insurers, Vaan AVETISYAN.

Claims expenses growth exceeded by far the GWP increasing pace in 2017, in the Armenian market. Thus, while paid claims went up by 24.9% - against 4.9% growth in 2016 -, GWP saw a y-o-y growth rate of only 6.2%, slightly improved as compared with the previous year (5%).

In 3Q 2017, gros premiums written by the local insurers have grown slightly, by 3.78%, to AMD 24,562.59 million (EUR 43.5 million), according to ArmInfo Agency data.

In the first nine months of 2017, the gross written premiums on the MTPL insurance segment in Armenia increased by 4.6%, to AMD 13.9 billion. By comparison, in the 3Q2016/3Q2015 period, the growth was 1.7%.

Armenia might have a mandatory agricultural insurance system in place, in about 3 to 5 years, an official of the specialized minister stated to the press, reports Arka News Agency.

In 1H2017, Armenian insurance market increased by 5.27%, mainly due to the implementation of several large economic projects which triggered the significant increase in accident insurance (54.59%) and CARGO insurance (+51.29).

A delegation of the global insurer ALLIANZ led by Antoine ISSA, Regional Director for Middle East and South Africa has recently met the Armenian Minister of finance Vardan ARAMYAN, to assess the business prospects on the local market.

The 5% GWP growth recorded by the Armenian insurers in 2016 was mainly due to the national cars fleet's expansion and to the implementation of several large economic projects.

In the first six months of 2016, the six active insurance companies of the Armenian market totaled AMD 16.1 billion in premium (note: based on the Central Banks financial standards), while based onIFRS standards local market totaled only AMD 15.8 billion. At the same time the indemnities paid by local insurers reached AMD 6.2 billion, according to ArmInfo News Agency.

Starting September 1st, 2016, car owners will no longer be required to declare the names of other drivers they allow to drive the vehicles upon buying MTPL insurance, recently said the Bureau of Motor Insurers of Armenia(source: ArmInfo).

With an exclusive list of professional speakers, 7 conferences and workshops analyzing current trends and issues on the re/insurance markets, as well as hundreds of bilateral meetings and networking opportunities, FIAR 2018 represents a key event on the business agenda.

Specialists from ICMIF - International Cooperative Mutual Insurance Federation and PensionsEurope, representatives of national insurance associations from Austria and Turkey, as well as professionals representing SWISS Re, GEN Re and AUDATEX are just a few of the speakers who have already confirmed their presence at FIAR 2018 - The International Insurance-Reinsurance Forum.

Insurance professionals from all over Europe gathered on Tuesday, 17 April, in Zagreb, Croatia, at the "Challenges and Practice of Insurance Supervision in South East Europe" conference. The event represents a unique forum for an open dialogue between insurance companies and insurance supervisory authorities of the SEE region.

In 2017, life insurance was the market driver for the Russian insurance market, mainly due to investment life insurance

The XXII International Reinsurance Conference has started today in Moscow, organized by Delovoy Format, with the support of the Russian Insurers Association. XPRIMM, the traditional Media Partner of the conference, has launched on the occasion the latest edition of its Insurance Profile Russia, providing for 2017 insurance statistical data.

The "IIF 2018 - PROPERTY INSURANCE - the NatCat challenge and beyond", taking place on Friday, 23 March, in Prague, bought into debate the NatCat insurance gap, but also the newly developed aspects of the manmade property risks.

The European Consumer Protection Conference, taking place on Thursday, 22 March, in Prague, brought into debate the consumer environment in the current European regulatory and economic landscape, the upcoming legislative changes that will benefit consumers and users of insurance and private pension products, as well as digitalization and the impact of technological advances in the field of financial services.

Insurance professionals from all over Europe gather today, 16 March, in Vienna, to participate at the "IIF 2018 - MOTOR INSURANCE - the innovation challenge" conference.