YEREVAN, August 13. /ARKA/. Armenia’s insurance companies posted 552.8 million drams in net profit as of the end of June 2013, an increase of 5.18% compared to the same period of the year before, according to ARKA’s “Insurance companies of Armenia” quarterly bulletin for Q2 2013.

Five out of seven insurance companies operating in Armenia recorded profit in the second quarter, whereas the two others – PECO and Garant Limens – suffered loss worth a total of 234.2 million drams.

According to the balance sheet, PECO’s net loss for Q2 was 93.8 million drams as compared to 64.4 million drams in Q2 2012.

Net loss suffered by Garant-Limens amounted to 140.3 million drams, as compared to 112.36 million drams in the same period of the year before.

According to the analysis by ARKA, Rosgosstrakh-Armenia us the leader of the insurance market in net profits in the first half of 2013 with a total of 289.7 million drams in profit against 165.11 million drams in the same period of the year before.

Nairi Insurance is the second with a total of 261.2 million drams in profits as compared to 64.5 million drams in the first 6 months of 2012.

The next is Armenia Insurance with about 140.7 million of profit (against 256.9mln drams in H1 2012) followed by Ingo Armenia with 81.2 million drams (against 52.4mln drams) and Sil Insurance with 14 million drams (compared to 34.5mln drams).

As of the end of June 2013, there were 7 insurance companies operating in Armenia. ($1=407.53drams).–0--