YEREVAN, February 18, /ARKA/. Armenia’s eight insurance companies posted 515.4 million Drams in net losses in 2010 against almost one billion Drams in net profits earned in 2009, according to an analysis made by ARKA. The drop amounted to 151.73%.

The largest net profit growth of 146.3 million Drams was posted by ISG company. The figure represented a 176% increase in net profit if compared to 2009. Nairit Insurance posted 11.7 million Drams in net profits which dropped by 96.2% or 299 million Drams from 2009.

The aggregate profits of nine insurance companies in 2010 totaled 298.7 million Drams. Six of them sustained 673.5 million Drams in losses. One company did not publish yet its report for 2010. There are nine insurance companies in Armenia. ($1 – 366.08 Drams). -0-