Armenian insurance companies report 63% surge in net profit

16.11.2016 16:10
Armenian insurance companies report 63% surge in net profit

YEREVAN, November 16. /ARKA/. The net profit of six Armenia-based  insurance companies in the first 9 months of 2016 amounted to 3.895.5 billion drams,  up from 2.394.1 billion drams they had earned in the same period of 2015, an increase of 62.7%., according to ARKA news agency’s  bulletin "Insurance Companies of Armenia" for the third quarter of 2016.

All 6 companies worked  with a profit. The leading insurance company by size of net profit was Rosgosstrakh-Armenia, which earned 1.727.8 billion drams, up from 1.044.9 billion drams it had earned in the first 9 months of 2015.

It was followed by Ingo Armenia that earned  848.1 million drams in net profit (a year-on-year growth of 85.8%), Nairi Insurance with a profit of 652.6 million drams (36.8% growth), Armenia Insurance -. 301.4  million drams (a decline of  24.7%), RESO - 287.1 million drams (in quarter 3 of 2015 it sustained losses to the tune of 84.5 million drams) and  Sil Insurance - 78.3 million  drams (a drop of 21.8%).

The combined assets of the six companies in the first 9 months amounted to 42 billion drams (a growth of 8.2%); their  liabilities stood at 22.7 billion drams (a growth of  0.7%) and their capital grew by 18.6% to 19.3 billion drams.  ($ 1 - 478.90 drams) 0-

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