In Armenia, the number of terminated CMPTL contracts jumped 2.5 times  YoY in the first quarter of 2021 

ArmInfo. In Armenia, the growth of CMPTL E-policy sales continues to  slow down in 2021 , to 66.1% in the first quarter from 3.2 times in  the same period in 2020. According to the Armenian Motor Insurers '  Bureau, the number of CMPTL contracts concluded online reached 41,493  in the first quarter of 2021. Their share in the total number of  CMPTL contracts increased in the first quarter of 2021 to 19% from  11% a year earlier.

At the same time, the total number of CMPTL contracts concluded in  the first quarter of 2021 decreased by 4.9%, amounting to 215,271.   The volume of insurance premiums collected under them amounted to 4.8  billion drams ($9 million), with a meager annual decline of only  0.04%. And this is despite an annual decline of 6.5% in the number of  vehicles with a CMPTL policy. The average insurance premium per CMPTL  contract increased by 5.1% per annum in the first quarter of 2021,  amounting to AMD 22,205.  During the reporting period, there were  229,279 CMPTL contracts that entered into force, the number of which  decreased by 6% per annum, and the volume of insurance premiums for  them amounted to 5.5 billion drams ($10.4 million) with an annual  decline of 3.3%. The number of CMPTL contracts terminated in the  first quarter of 2021 jumped 2.5 times-to 8,332, which increased the  volume of returned or refundable premiums by 2.3 times – to 112.2  million drams ($211.2 thousand).

In the first quarter of 2021, 20,423 applications for insurance  compensation were submitted, which is 2.3% more than a year ago. And  the volume of payments on them amounted to 4.5 billion drams ($8.4  million), with an annual growth of 9%. Moreover, 9,751 applications  were found in cases of simplified taxation.  registration of road  accidents (according to the Euro protocol) with an annual growth of  12%, for which the volume of reimbursements paid amounted to 783  million drams (an annual increase of 34.7%), and the average amount  of one payment - 80,295 drams (with the annual dynamics of the 10.1%  decline to 20.2% growth). As for the total insurance indemnities, the  average amount of one payment amounted to 218.417 thousand drams with  an annual growth of 6.5%.

The CMPTL loss ratio increased in the first quarter of 2021 to 88%  from 64% in the first quarter of 2020.  According to the results of  the first quarter of 2021, there are 521,645 vehicles with a valid  CMPTL agreement in Armenia. Their number in the annual context  decreased by 36,513 units, of which more than 17 thousand units were  lost in Rosgosstrakh Armenia and about 12 thousand units in the  Forces of Insurance. Thus, the decline was recorded in four SCS: the  maximum in the Forces of Insurance - by 19.4%, and in the other  three-in the range of 9.3-9.7% (the maximum in Rosgosstrakh Armenia,  the minimum in INGO Armenia). Only Nairi Insurance (7%) and  Armenia-Insurance (0.9%) showed growth. Nevertheless, the leader in  the number of vehicles with the current CMPTL agreement continues to  be the IC "Rosgosstrakh Armenia" - 162,122 units. (with an annual  decline of 17,445 units), the second position is held by Nairi  Insurance - 114,409 units. (with an annual growth of 7,526 units),  the third - INGO Armenia - 82,716 units. (with an annual decline of  8,457 units), the fourth-RESO-63,878 units. (with an annual decline  of 6,630 units), on the fifth - Force Insurance - 49,662 units. (with  an annual decline of 11,933 units), and the sixth - Armenia-Insurance  - 48,858 units. (with an annual growth of 426 units).  As a  comparison, referring to the data of the Bureau of Motor Insurers, we  note that in the first quarter of 2020, an increase in the number of  vehicles with a CMPTL contract by 9.7% per annum was accompanied by a  decline in CMPTL contracts by 1.9% (with a jump in e-CMPTL by 3.2  times) and an increase in the volume of collected insurance premiums  by 2%. At the same time, the number of CMPTL contracts entered into  force decreased by 3% per annum, while the volume of insurance  premiums for them decreased by only 0.1%. The number of CMPTL  contracts terminated in the first quarter of 2020 decreased by 74.4%  rper annum, for which the volume of returned or refundable premiums  decreased by 76.1%. The average insurance premium per CMPTL contract  increased by 4% per annum in the first quarter of 2020. And the  number of vehicles with a valid CMPTL contract has increased by  49,157 units year-on-year, and the championship is held by the IC  "Rosgosstrakh Armenia". Applications for insurance compensation  increased in the first quarter of 2020 by 3.3% per annum, with an  increase in the volume of payments for them by 10.4% (with an  increase of 6.9% in the average size of one payment).

However, the  number of applications for the Euro protocol decreased by 6.1%, the  volume of payments for which also decreased-by 15.6% (with a decline  of 10.1% in the average size of one payment). It is appropriate to  note that since August 2020, a higher damage threshold of 200  thousand drams (against the previous 100 thousand drams) has come  into force for insurance claims under the Euro protocol.