Bureau of Motor Insurers of Armenia by the end of 2018 forecasts the loss ratio for OSAGO at the level of about 70%

ArmInfo. The loss ratio for  OSAGO by the end of 2018 will be about 70%. This forecast was  presented by the executive director of the Armenian Insurers' Bureau  Vahan Avetisyan in a conversation with ArmInfo correspondent on March  30.

He said that in January-February 2018, the loss ratio for OSAGO  (third party liability insurance) reached 76.7%. "During this period,  this indicator is somewhat high, which is usually associated with the  winter season," Avetisyan explained.  According to the Bureau of Auto  Insurers of Armenia, according to the results of 2017, the loss ratio  for OSAGO was about 66%, with an annual growth of almost 11  percentage points. In 2017, the amount of accrued insurance premiums  for motor third party liability insurance increased by 4.9% to 19.2  billion AMD, and the volume of paid insurance claims - by 32.4% to  11.9 billion AMD. By way of comparison, we note that in 2016 the  growth rates of premiums and reimbursements were almost the same -  3.4% and 3.3% respectively.

In Armenia there are 6 insurance companies. As of January 1, 2018,  Rosgosstrakh Armenia leads the insurance premiums in the class of  compulsory motor TPL insurance, in second place - INGO Armenia, on  the third - Nairi Insurance, followed by RESO, Sil Insurance and  Armenia Insurance. "Rosgosstrakh Armenia" also takes precedence over  insurance claims, "Nairi Insurance" takes the second place, "INGO  Armenia" is on the third place.