Loss ratio in Armenia’s car insurance sector reduces to 62% by end of March

Insurance
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YEREVAN, April 16. /ARKA/. Loss ratio at Armenia’s car insurance reduced by 7.4 percentage points to 62% in March compared to February, Armenia’s Car Insurance Bureau reported.

Loss ratio for March 2013 was 79.6%.

Allowable loss ratio is 75-78% in Armenia’s car insurance, provided minimum and maximum level of insurance payments is 22-25%.

As of the end of March, there were a total of 437,812 vehicles insured, an increase of 2,374 compared to the month before.

The third-party liability motor insurance was introduced in Armenia on January 1, 2011.

The Central Bank of Armenia has been carrying out supervision over the insurance market since January 1, 2006.

There are seven companies operating in Armenia’s insurance market today.–0–

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