YEREVAN, November 23. / ARKA /. Net profits of Armenian insurance companies in January-September 2012 contracted by 48 percent from a year before to about 1.2 billion drams.

According to an analysis of ARKA news agency, the leading company by size of net profit was Rasko which earned more than 407.4 million drams in nine months, up from 218.9 million drams a year earlier.

Other leading companies by size of net profits were Reso - about 345.4 million drams, up from 292.8 million drams from a year before, Nairi Insurance - about 288.6 million drams, down from 511.4 million drams in the first nine months of 2011 and Garant-Limens - about 100.6 million drams, down from 216.4 million drams in the same time span in 2011. Sil Insurance posted 104.7 million drams in losses. ($ 1 -406.82 drams). -0-