Bureau of Motor Insurers of RA: The loss ratio for motor third party liability insurance rose in 2017 from 55.3% to 66%

ArmInfo. According to the company's data, the loss ratio for compulsory motor third party liability insurance increased by almost 11 percentage points in 2017, making about 66%.

According to the Bureau, the volume of accrued insurance premiums for compulsory motor third party liability insurance amounted to 19.2bln AMD by the results of 2017, having increased by 4.9% in the annual section, against growth by 3.4% a year earlier. At the same time, the volume of insurance claims paid was 11.9 billion AMD, with a sharp acceleration of growth from 3.3% to 32.4%.

As of January 1, 2018, there are 497,881 vehicles in Armenia with the presence of the PAAP agreement, with an annual growth of 29,710 units or 6.4%, against the growth of the annual statutory period by 10293 units or by 2.3%. Of the total number of motor vehicles with the presence of a PAAP contract, 25% covers Rosgosstrakh Armenia, 22% - INGO Armenia, 20% - Nairi Insurance, 12-13% - Seal Insurance and RESO, and 8% - Armenia Insurance.

In terms of the volume of insurance claims in the class of compulsory motor third party liability insurance, Rosgosstrakh Armenia ranks in the lead in 2017 - 3.3 bln drams, with Nairi Insurance - 2.34 bln and INGO Armenia - 2.3 bln, followed by RESO - 1.5 bln, SilInsurance -1.4 billion, Armenia Insurance - 788.1 million AMD.

Head of the Bureau of Motor Insurers of Armenia predicts a loss ratio for PAAP for 2018 at the level of about 70%.