Armenian insurance companies’ equity capital rises to 9.9 billion drams

09.11.2009 13:40
Armenian insurance companies’ equity capital rises to 9.9 billion drams

YEREVAN, November 9, /ARKA/. Twelve Armenian insurance companies said their aggregate equity capital rose to 9.9 billion Drams at the end of September, 2009 from 9.3 billion Drams at the end of Q2. The growth, according to a Central Bank review of insurance companies’ activity in Q3, was 5.49% or 512.6 million Drams.

According to the same source, their accumulated earnings in Q3 rose by 39.5% (by 471.7 million Drams) from Q2 to 1.7 billion Drams, of which 1.330 billion Drams were current term earnings. Their total authorised capital rose at the end of end of Q3 to 7.944 billion Drams from 7.903 billion Drams at the end of Q2.

Their aggregate assets rose to 14.2 billion Drams from 13.9 billion Drams at the end of Q2, while cash available and related funds fell by 19% to 33 million Drams from 40.8 million Drams at the end of Q2. Their aggregate liabilities rose to 4.3 billion Drams.

As of September 30, 2009 there were 12 insurance companies in Armenia. Since 2006 January 1 their performance is supervised by the Central Bank of Armenia. -0-


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