Assets of Armenian insurance companies in first half increase by 31 % to 50.2 billion drams

23.10.2013 16:07
Assets of Armenian insurance companies in first half increase by 31 % to 50.2 billion drams

YEREVAN, October 22. / ARKA /. The assets of Armenian insurance companies in the first half of the year increased by 31 % year-on-year to 50.2 billion drams, the Central Bank said in its regular report on the financial stability.

The insurance companies’ obligations in the same period of time were said to have increased by 45.7 % to 35.9 billion drams, while their total capital increased by 4.4 % to 14.3 billion drams. The report says also that the share of insurance companies in the financial sector increased by 0.1 percentage points to make 1.7% of the total assets.

According to the Central Bank, the main indicator of insurance companies’ activity - the amount of insurance payments- decreased in the first half by 4.7% to 22.7 billion drams as compared to the same period last year.  In the first six months of last year this index grew by 58.8 %.

Another indicator of insurance companies’ activity- - the ratio of insurance payments to GDP – fell by 0.1 percentage points to 0.84 % as of June 30.

As for the size of per capita insurance payments, it was 10,749 in late June against 10,824 drams in December 2012.

Nine insurance companies are licensed to operate in Armenia. Of them only seven work. ( $ 1-405. 71 drams). -0-


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