YEREVAN, May 27. / ARKA /. The combined capital of Armenian insurance companies increased by 20.5% in the first quarter of 2011 (2.3 billion drams) to 13.7 billion drams as of March 31, 2011.

According to findings of an analysis, made by ARKA news agency, Russian-owned Rosgosstrakh-Armenia was the leading company by size of capital, that grew by 28.2% in the fist three months of 2011 (487.3 million drams) to 2.216.4 billion drams. It accounted for 16.21% of the combined capital of all insurance companies.

Ingo Armenia’s capital grew to 1.820.3 billion drams, (13.3% of the combined capital), the capital of Cascade Insurance grew to 1.660.3 billion drams (12.2%), Nairi Insurance capital stood at 1.646 billion drams (12.1%) and that of Garant Limens grew to 1.621 billion drams (11.9%).

Cascade Insurance had the largest charter capital of 1.718 billion drams, Rosgosstrakh-Armenia was third by size of charter capital -1.690 billion drams and Garant Limens was fourth with 1.634.5 billion drams charter capital. Presently there are 9 insurance companies in Armenia. ($1 – 377.6 drams).  -0-