Ingo Armenia earns 900 million drams in profit

28.12.2016 15:50
Ingo Armenia earns 900 million drams in profit

YEREVAN, December 28. /ARKA/. Ingo Armenia insurance company earned a total of 900 million drams in profit in the first 11 months of this year, Ingo Armenia CEO Arevshat Meliksetyan told a news conference today.

He said the company’s assets in the first 11 months were worth about 11 billion drams, its liabilities stood at about 7 billion drams, its own capital – at 3.9 billion drams. The company collected also 8.4 billion drams in insurance premiums and paid 3.4 billion drams in damage compensation claims.

According to him, the company’s return on assets (ROA) and return on equity (ROE) indexes were 10% and 25% respectively.

The company paid also more than 400 million drams in taxes. Currently, Ingo Armenia has 267 people on its payrolls having secured a 14% increase compared to last year.

"We have 200 thousand individual and 1,300 corporate clients. One of our major objectives is to ensure financial stability, including the liquidity ratio, which is twice the standard, as well as our ability to pay, which is by 50% higher of the limit set by the central bank,"- Meliksetyan said.

Ingo Armenia was founded in 1997 as insurance company Efes. In December 2003, 75% of the company was purchased by Russian Ingosstrakh, after which the company was renamed Ingo Armenia issuance company. ($ 1 - 482.68 drams). -0-


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