YEREVAN, May 24. / ARKA /. Armenia’s insurance companies posted 340.8 million drams in net profit  in the first quarter of 2013. In the first quarter of 2012 they reported 688.3 million drams in losses.

According to an ARKA study, out of the seven insurance companies operating in Armenia five ended the first quarter with a profit, and the other two companies - Sil Insurance and Rosgosstrakh Armenia - had suffered 54.3 million drams in losses.

The leading company by size of profit in the first quarter of 2013 was Nairi Insurance that earned 130.9 million drams against a loss of 83.4 million drams in the first quarter of 2012.

The second was Ingo Armenia which reported 121.2 million drams in net profit, an increase of 69 percent from the first quarter of 2012. It was followed by Armenia Insurance, which earned 70.5 million drams in net profit, up from 6.5 million drams in the first quarter of 2012. Garant-Limens was fourth with 52.7 million drams in net profit, up from 31.3 million drams in the first quarter of 2012 and Reso was with 18.9 million drams. In the first quarter of 2012 it sustained 62.4 million drams in losses.  ($ 1 - 414.82 drams). -0-