YEREVAN, June 18. /ARKA/. The Armenian insurance sector’s loss rate on mandatory car insurance was 50% in May 2015 – 1% lower than in the previous month, the Bureau of Car Insurers of Armenia reports on its website.
In May 2014, the loss rate was recorded at 59.1%.
The permitted loss rates for car insurers in Armenia range from 75 to 78 percent under 22 to 25% insurance payout rate, on which payment calculation system is based.
There were 433,935 insured vehicles in Armenia on May 31, 2015. This number is larger than that of the previous month by 1,593.
The obligatory car insurance institution was introduced in Armenia on January 1, 2011.
The country’s insurance market is controlled by the central Bank of Armenia.
Six insurance companies operate in Armenia now. ——0—-
