YEREVAN, November 6. /ARKA/. Armenia’s insurance companies posted 2,350.4 million drams in net profit as of the end of the third quarter 2014, as compared to 338 million in loss in the same period of the year before, according to ARKA’s “Insurance companies of Armenia” quarterly bulletin for Q3 2014.

Six out of seven insurance companies operating in Armenia recorded profit in the period, but the last one – Sil Insurance – suffered loss of 87.5 million drams (compared to 72mln in profit in Q3 2013).

According to ARKA’s analysis, Rosgosstrakh-Armenia had the largest net profit in the period – 747 million drams compared to 407.24 mln in loss in the same period of 2013.

Ingo Armenia is the second with 670.48 million drams in profit (73.6mln in loss in nine months of 2013), followed by Garant-Limens with about 294mln drams (382.25mln loss in nine months of 2013), Armenia Insurance with 292.8mln (176.5mln in profit respectively), Reso – 219.86mln (136.8mln in loss), Nairi Insurance 213.7mln (413.2mln in profit).

In general, Armenia’s insurance companied completed the year 2013 with a loss of 933 million drams against the profit of 525.4 mln drams in 2012.

Assets of Armenia’s insurance companies amounted to 44.1 billion drams in January-September 2014; liabilities were 27.2bln drams and capital was 16.9bln drams.

As of the end of September 2014, there were seven insurance companies in Armenia. Garant Insurance merged with Rosgosstrakh-Armenia in early 2014. ($1=413.51drams). –0--