Armenian insurance companies’ net profit in first six months halves to 1.26 billion drams

18.08.2017 14:59
Armenian insurance companies’ net profit in first six months halves to 1.26 billion drams

YEREVAN, August 18. /ARKA/. Six insurance companies operating in Armenia earned a total of 1.26 billion drams in net profit in the first six months of this year, down from 2.62 billion they had earned a year earlier. The drop amounted to 51.6%, according to "Insurance Companies of Armenia," a quarterly bulletin, issued by ARKA news agency.

Five of these companies closed the first half of 2017 with profit. They are Rosgosstrakh-Armenia, Nairi Insurance, Ingo Armenia, Armenia Insurance and Sil Insurance. Reso suffered a loss.

The leading company by size of net profit was Rosgosstrakh-Armenia, which earned 518.4 million drams, down from about 1.2 billion, it had earned in the first half of 2016 (a 56.7% decrease from the year before).

Nairi Insurance posted a profit of 307.4 million drams (a decline of 27.9%), Ingo Armenia earned 249.1 million drams (a decline of 52.4%), Armenia Insurance reported a 230.5 million drams net profit (a decline of 0.2%) and Sil Insurance - 3.5 million drams (a 91.6% decline).
Reso’s losses amounted to 39.6 million drams against a profit of 202 million drams earned in the first six months of 2016.

The aggregate assets of Armenian insurance companies in late June 2017 stood at 43.4 billion drams (an increase of 0.1%), their liabilities amounted to 24.2 billion drams (an increase of 1.2%) and their capital declined by 1.3% to 19.2 billion drams. ($ 1 - 478.2 drams) -0-


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