YEREVAN, November 20. /ARKA/. Armenian insurance companies paid 72% of the overall amount of insurance fees in compensations in the first 9 months of 2012, said head of Actuarial Society of Armenia Astghik Ananyan.

The compensations were 69% of the fees’ amount in September 2011 - September 2012 period. This means that Armenian insurance market is stronger now and people are better informed, she said.
Armenian law about insurance was passed in November 1996.

There are currently seven universal insurance companies operating in Armenia offering travel, health, liability, cargo insurance, compulsory car insurance, and etc.

Net profit of Armenian insurance companies totaled 487mln drams by the end of September 2012. The total sum insured was more than 7 trln drams in the third quarter only.

Financial reports of insurance companies for first half 2012 show that aggregate assets of Armenian insurers were 38.1bln drams as compared to 28bln drams in the beginning of the year; aggregate capital was 13.6bln drams against 13.3bln drams and total liabilities were 25.2bln drams as compared with 14.7bln drams. ($1=407.30drams).  –0--