YEREVAN, June 23. /ARKA/. The ratio of car insurance losses incurred by Armenia-based insurance companies in 2014 May grew by 0.1 percentage point in May from April to 59.1 percent, according to a statement posted today on the official website of Armenia’s Car Insurance Bureau.
The figure was down from 75.6 percent loss ratio incurred by insurance companies in their total activities. The permitted ratio of car insurance losses is 75 to 78%. According to the statement, at the end of May 2014 there were 443,037 insured vehicles in Armenia, by 2,500 more than in April.
The mandatory insurance against physical damage caused to other cars and individuals became mandatory in Armenia on January 1, 2012. The country’s insurance market is controlled by the central bank. —0—–
