RESO insurer posted 116% growth in insurance premiums in 2012

05.04.2013 15:55
RESO insurer posted 116% growth in insurance premiums in 2012

YEREVAN, April 5. /ARKA/. The volume of insurance premiums of Armenia-based RESO CJSC rose by 116% in 2012, compared with 2011, the insurer reported to ARKA on Friday.

The company was among those that led the market in a number of indicators. It is the most dynamically developing companies in Armenia, the source said.

“RESO company is one of the most effectively operating companies, it leads the market in the loss ratio (the difference between the ratios of premiums paid to an insurance company and the claims settled by the company),” the company noted.

Last year RESO was Armenia’s top insurer in terms of insurance premiums gathered through health insurance including that within the social package for public servants.

In addition, RESO is amid top three companies in terms of total volume of insurance premiums, including those gathered through mandatory car insurance.

“RESO is ranked 378th in the list of Armenia’s largest taxpayers. It contributed nearly 246.05 million drams to the state coffers,” according to the source.

RESO CJSC was registered on November 12, 2008 and renamed RESO on November 9, 2009.

The company’s shareholders are Polygraphia CJSC (50%) and CIS Equity Partners Limited (50%).
According to ARKA agency, in 2012 the net profit of the company stood at over 436.2 million drams, total assets—over 5.5 billion drams. ($1 – 418.06 drams).—0-

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