ArmInfo.A significant rise in compulsory motor third-party liability insurance (MTPL)  tariffs effective February 2025 has enabled insurance companies to enhance their efficiency and achieve significant profits. This information is based on the Financial Rating of Armenian Insurance Companies data as of December 31, 2025, prepared by the ArmInfo Investment Company using published financial reports and  requested indicators from insurance companies.

ArmInfo. Armenia's insurance sector was a significant increase in its net profit for  2025, nearly quadrupling from the previous year's 71% decline to reach 2.9 billion drams ($7.7 million).

ArmInfo. Armenia's agricultural crop insurance program will resume on February 15, 2026.  Minister of Economy Gevorg Papoyan shared this information on his Facebook page, noting that the decision was reached after lengthy negotiations with insurance companies.

ArmInfo. On February 9, a signing ceremony for a Memorandum of Cooperation was held in Yerevan between the Universal Health Insurance Fund and the insurance  companies Ingo Armenia, EFES, Liga Insurance, and Sil Insurance. This  was stated in a statement by the Fund.

ArmInfo.  Armenia's insurance sector saw a significant increase in  its net profit  in  the first nine months of 2025 compared to the previous year. The  sector's net profit quadrupled, reaching AMD 2.8 billion ($7.3  million), a stark contrast to the 77,5% decline experienced a year  earlier. This growth was the result of tariff increases, leading to  an annual premium growth of 16.6% (amounting to AMD 63.2 billion or  $165.2 million), a substantial improvement from the previous year's  1.5% decline. However, the  annual indemnity growth slowed down from  17.3% to 8.1% (to AMD 35.2 billion or $92 million), according to the  Financial Rating of Armenian Insurance Companies as of September 30,  2025, prepared by ArmInfo Investment Company based on published  financial reports and additional data requested from insurance  companies.

ArmInfo.  A substantial  increase in tariffs for compulsory motor third party liability insurance (OSAGO) since February of this year has enabled insurance companies  to greatly enhance the efficiency of their operations and achieve  significant profits, as evidenced by  data from the Financial Rating  of Insurance Companies in Armenia as of 30.06.2025, prepared by  ArmInfo IC based on published financial reports and requested  indicators that were previously unavailable from the insurance  companies.

ArmInfo. The insurance sector of  Armenia increased its net profit in the first half of 2025 by 2 times  year-on-year (against a 65.3% decline a year ago), ensuring it at the  level of 1.95 billion drams ($5.1 million). This was the result of a  strong slowdown in the annual growth of compensation from 32.4% to  4.3% (21.4 billion drams or $55.8 million) and the exit of the  dynamics of premiums from a 6% decline to 7.2% growth (41.5 billion  drams or $107.9 million). This is evidenced by the data of the  Financial Rating of Insurance Companies of Armenia as of 30.06.2025,  prepared by ArmInfo IC based on published financial reports and  additional data requested from the insurance companies.

ArmInfo.  Since 2025, the situation in the insurance market has started to change: premiums have increased, while compensation has decreased,  leading to a significant rise in profits. This is evidenced by data from the Financial Rating of Insurance Companies of Armenia as of 31.03.2025, prepared by ArmInfo IC based on published financial reports and  missing indicators requested from the insurance companies. In the first quarter of 2025, there was a notable slowdown in in the annual  decline of insurance premiums to 7%, exceeding 20.9 billion drams (over $ 53.4 million). Compensations also saw a shift in dynamics, with a slight 0.2% decrease, amounting to 10.3 billion drams ($ 26.2 million).  As a result, net profit experienced a significant turnaround, going from a 73% decline to an 82.3% growth, reaching 807.2 million drams ($ 2.1 million). The most impressive profit growth was provided by LIGA Insurance (3 times) and the new IC Efes (9 times). Both companies were able to eliminate losses and achieve a  substantial positive level, contributing to an overall increase   market profits. For comparison, in the first quarter of 2024,  premiums and compensations had opposite trends - a 19% decline in the former was accompanied by a 43% growth in the latter, as a result of which net profit fell by 73%.

ArmInfo. The net profit of the insurance sector of Armenia in the first quarter of 2025 increased by 82.3% per annum (against a 73% decline a year ago) and reached 807.2 million drams ($2.1 million). This was the result of a strong slowdown in the annual decline in premiums from 19% to 7% (20.9 billion drams or $53.4 million) and a reversal in the dynamics of compensation from a significant 43% growth towards a 0.2% decline (10.3 billion drams or $26.2 million). This is evidenced by the data of the Financial Rating of Insurance Companies of Armenia as of 31.03.2025, prepared by ArmInfo IC based on published financial reports and additional data requested from the insurance companies. 

ArmInfo. Of the 7 operating insurance companies, 3 were included in the list of the 1000 largest taxpayers of Armenia in the first quarter of 2025 (as a year ago): LIGA Insurance, INGO and Sil Insurance. This is evidenced by the data of the State Revenue Committee of the Republic of Armenia.

ArmInfo. The Ministry of Economy of Armenia, which oversees the country's agricultural sector, proposes to fully subsidize the insurance premium for the 2025 agricultural year at the expense of government funds as part of the  program for the introduction of agricultural insurance, as well as to  provide agricultural entrepreneurs with a subsidy of up to 80%  (inclusive) of the insurance premium stipulated by the insurance  contract. The initiative is posted on the single portal of legal  acts.

ArmInfo. The net profit of the insurance sector of Armenia, after a 4.5-fold jump in 2022, began to decline in 2023, lingering in this trend in 2024 with some slowdown in growth rates from 33% to 26%. This was the result of a  deterioration in the dynamics of premiums to a 2% decline and a  slowdown in the growth of compensation to 15%. While a year ago, both  indicators increased by 17% and 30%, respectively (against high  growth in premiums and stagnation in compensation in 2022). 

ArmInfo.In the insurance market of Armenia, the loss ratio for MTPL for 2024 increased from 71.7% to 81.8%. This is evidenced by the data of the Bureau of Motor Insurers of Armenia.

ArmInfo. In the insurance  market of Armenia, the loss ratio for compulsory motor third-party  insurance increased to the 81.5%  by December 2024, from last year's  70%.  This is evidenced by data from the Bureau of Motor Insurers of  Armenia. The growth of the ratio in January-November 2024 was  observed against the background of a deterioration in the annual  dynamics of the number of active contracts - from 12.8% growth to  0.8% decline, an imperceptible acceleration of the already moderate  growth of insurance premiums - from 3.4% to 9.4%, in parallel with  which a pronounced acceleration of double-digit growth in  compensation was recorded from 15.7% to 21.9%. According to the  Bureau, the number of vehicles with OSAGO policies in  January-November 2024 increased slightly - by only 1.7% y/y, while a  year ago the growth was 9.9%. In quantitative terms, by the beginning  of December 2024, there were 670,527 vehicles with MTPL contracts in  the country, but the number of active contracts was 1.192 million  (minus terminated ones - 1.081 million). 

ArmInfo. In the insurance market of Armenia, the loss ratio for compulsory motor third-party  liability insurance increased to 79.1% by September 1, 2024 from 65% last year. This is evidenced by the data of the Bureau of Motor Insurers of Armenia.

ArmInfo.Premiums in Armenia's insurance market have began to decrease while indemnities are still  increasing at double-digit rates. This trend is starting to impact the companies' profits.  (As ArmInfo analysts note, the transition of insurance companies' financial statements to a new format each time conceals more and more important indicators, making it difficult to analyze the state of the market.  

ArmInfo. The net profit of the insurance sector of Armenia dropped by 33% in 2023, after a 4.5-fold  increase in 2022. "This resulted from higher reimbursement growth of 30% with a modest 17% increase in premiums.

ArmInfo."LIGA Insurance" topped the list of the largest taxpayers in Armenia among insurance  companies. According to data from the State Revenue Committee, the LIGA Insurance insurance company rose to the 384th place (the 554th in 2022), paying AMD 815.1mln the state budget, of which AMD 682.6mln  as direct taxes.

ArmInfo. In the Armenian insurance market, compensation growth continues to accelerate, while  premium growth has slowed, as a result of which market profits have begun to decline, according to the data of the anniversary issue No.75 of the Financial Rating of Insurance Companies of Armenia as of  September 30, 2023, prepared by ArmInfo IC based on published reports  and portfolio data requested from the insurance companies.

ArmInfo.In the Armenian insurance market, the CMPTL loss ratio has been at the level of 64%  for a year now, which is much lower than 79% in Jan-July 2021 and the  pre-Covid 72% in the same period of 2019.