YEREVAN, April 19./ARKA/. The loss rate of Armenia’s insurance sector stood at 49% in March 2016 showing a one-percent decline, compared with the previous month, the Armenian Motor Insurers Bureau reports on its website.
In March 2015, the sector’s loss rate was recorded at 53%. The permissible loss rate in Armenia is set at 75-78%.
There were 437,424 registered motor vehicles in Armenia in late March 2016. This number is greater than that of the same month a year before by 11,285.
The mandatory motor insurance institution was introduced in Armenia on January 1, 2011.
The country’s insurance market is under the central bank’s control.
Six insurance companies operate in Armenia now. —0—-
