ArmInfo. In Armenia, consumer prices are falling due to cheaper food products, such as cereals,  flour, meat, butter, fish, bread, cheeses, vegetables and fruits. In parallel, an increase in prices for gasoline, alcohol and cigarettes is recorded. In addition, the prices of services continue to increase, especially the tariffs for personal transport services have risen sharply, by the data of the RA Statistical Committee.

ArmInfo. From April 2024, the policyholders will be required to indicate the number of their bank  account (card or current), or the account of their authorized representative in the CMTPL (Compulsory Motor Third Party Liability) agreement. This is noted in the message of the Motor Insurers' Bureau of Armenia received by ArmInfo.

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. In case of fulfillment of certain conditions by drivers in Armenia, the amount of fines for the absence of an insurance contract will be reduced 4-fold. At the plenary session on January 16, the National Assembly  of the Republic of Armenia introduced amendments to the Code of Administrative Offenses in the second and final reading.

ArmInfo.By December 1, 2023, the loss ratio for Compulsory Motor Third Party Liability (CMTPL) in  the insurance market of Armenia, increased to 70% from last year's 65%, according to the data from the Motor Insurers' Bureau of Armenia.  An increase in the coefficient began to be noticed in April of this year against the background of the transition to the liberalization of PPP tariffs.

ArmInfo.In Armenia, the procedure for submitting documents to the RA Police on concluding an  agreement on Compulsory Motor Third Party Liability (CMPTL) for fined drivers will be simplified. At the plenary session on December 8, the National Assembly of the Republic of Armenia is discussing amendments  to the Code of Administrative Offenses in the first reading.

ArmInfo. In Armenia, the procedure for submitting documents to the RA Police on concluding an  agreement on Compulsory Motor Third Party Liability for fined drivers will be simplified. At a meeting on December 4, the RA National Assembly Standing Committee on Defense and Security issued a positive  opinion on the draft amendments to the Code of Administrative Offences.

ArmInfo. The loss ratio of motor third-party liability insurance (MTPL insurance) was 68% as of  November 1, 2023, against 64% last year, in the first quarter of 2022, Armenian Motor Insurers Bureau. 

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.

ArmInfo. In the insurance market of Armenia, the loss ratio for Compulsory Motor Third Party Liability (CMPTL) continues to grow, up to 66% as of October 1, 2023, from last year's 64%, according to the data from the Motor Insurers' Bureau of Armenia.  

ArmInfo.In the insurance market of Armenia, the loss ratio for Compulsory Motor Third Party  Liability (CMPTL) is slowly starting to increase year-on- year, from 63% to 65% by September 1, 2023, noticeably higher than the pre-Covid 69% in Jan-August 2019.

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.

ArmInfo.

ArmInfo. The loss ratio of motor third-party liability insurance (MTPL insurance) was 64% in the first half of 2023 against 65% in the first half of 2022, and 81% in 2021and 73% in 2019. This was accompanied by a liberalization of MTPL prices and slightly lower rates of a 2-digit annual increase in the number of MTPL insurance contracts from 19.7% down to 16.3%, and a slower % increase in insurance premiums, from 21.4% down to 6.5%. A 9.8% increase in insurance indemnities (up to $10.7mln) was recorded against an 8.7% decrease.

ArmInfo. June's 0.5% deflation in  Armenia was caused by a 4.1% decrease in food prices, an almost  identical increase in service tariffs by 3.9% and a slight increase  in non- food prices by 0.3%. The most noticeable fall in food prices  was for vegetable oil - by 39.2%, vegetables - by 28.1%, buckwheat -  by 23.1%, lentils - by 20.7%, flour - by 16.3%, peas - by 12.6%,  margarine - by 10.6%, pork - by 10.1%, in parallel with which the  prices of eggs have risen significantly - by 21.7% and beef - by 9%.  This is evidenced by the data of the RA Statistical Committee,  according to which, a year ago in June, 10.3% inflation was recorded  due to the increase in the prices of food and non-food products by  16.1-7.5% and the increase in service tariffs by 5.3%.

ArmInfo. The loss ratio for CMPTL in Armenia in January-April 2023 decreased to 62% from 67% in January-April 2022, being much lower than the pre-Covid 73% in January- April 2019.

ArmInfo. The loss ratio of motor third-party liability insurance (MTPL insurance) was 62% in the first  quarter of 2023 against 69% in the first quarter of 2022, and 74% in the first quarter of 2019. The number of MTPL insurance contracts showed an increase from 15.9% to 17.8%, with a 12.8% increase in insurance premiums ($16.3mln) against 17.5% and a 6.7% increase in insurance indemnities (up to $10.7mln) against a 13.5% decrease. 

ArmInfo.

ArmInfo.