ArmInfo. The volume of accrued insurance premiums for compulsory motor third party liability insurance amounted to 13.9 billion AMD in the first 9 months of 2017, an increase of 4.6% over the year, versus growth of 1.7% a year ago. At the same time, the volume of insurance claims paid was 8.2 bln AMD, with a sharp output of the annual dynamics from a 1.6% decline to a 34.4% increase. This is evidenced by monthly reports published by the Bureau of Motor Insurers of Armenia on OSAGO.
According to these reports, there are 479,356 motor vehicles in Armenia with the presence of an annual growth of 28224 units or 6.3%, against the growth of the annual limitation by 10,846 units or by 2.5%. Of the total number of motor vehicles with the presence of OSAGO agreement, 26% covers Rosgosstrakh Armenia, 22% - INGO Armenia, 20% - Nairi Insurance, 12-13% - Seal Insurance and RESO, and 7% - Armenia Insurance.
In September 2017, the average amount of insurance indemnity paid on one satisfied claim was 191357 AMD, against 199459 in September 2016. Rosgosstrakh Armenia Insurance Company is leading in terms of insurance claims in the 9 months of 2017, 2.3 billion drams, followed by Nairi Insurance -1.59 billion and INGO Armenia 1.55 billion, followed by RESO 1.1 billion, Sil Insurance - 960.6 million, Armenia Insurance - 530.5 million AMD.
According to the Bureau of the Insurers' Bureau, the loss ratio for compulsory motor third party liability insurance amounted to about 60% as of September 30, 2017, with annual growth of almost 10 percentage points.
According to Ranking of insurance companies of Armenia as of 30.09.2017, prepared by ArmInfo News Agency , Rosgosstrakh Armenia holds the leading position on insurance premiums and insurance indemnities in the class of OSAGO, while INGO Armenia and Nairi held the 2nd and 3rd positions Insurance. " The share of OSAGO in the total volume of insurance premiums is 56.08%, and in the total volume of insurance claims - 66.82%, against 55.7% and 59.82% respectively. In total, the volume of insurance premiums (total for all classes of insurance) was 24.6 billion AMD (with an annual growth of 3.8% against 0.3% a year ago), and insurance indemnities - 11.98 billion AMD (with an annual growth of 19.3% against 4.8% a year ago). Six insurance companies operate in Armenia.