YEREVAN, November 26. /ARKA/. Six insurance companies operating in Armenia earned a total of 387.5 million drams in net profit in the first nine months of this year, down from 1.711 billion drams they had earned a year earlier. The drop amounted to 77.4%, according to “Insurance Companies of Armenia,” a quarterly bulletin, issued by ARKA news agency for the third quarter of 2018.
Four of these companies closed the first nine months with profit. They are Ingo Armenia, Nairi Insurance, Armenia Insurance and Reso, while Rosgosstrakh-Armenia and Sil Insurance suffered losses.
The leading company by size of net profit was Ingo Armenia, which earned 229.5 million drams, down from 308.7 million drams a year ago (a 25.6.% decrease). Nairi Insurance posted a profit of 210.6 million drams (a decline of 45.5%), Armenia Insurance reported 190.5 million drams in net profit (a decline of 45.2%) and Reso reported 11.2 million drams in profit against 52 million losses a year ago.
Rosgosstrakh-Armenia’s s losses amounted to 69.4 million drams against a profit of 753.5 million drams earned in the first nine months of 2016. And Sil Insurance’s losses amounted to 184.9 million drams, up from 32.6 million losses sustained a year ago.
The aggregate assets of Armenian insurance companies in the third quarter of 2018 stood at 45.8 billion drams, their liabilities amounted to 27.7 billion drams and their capital to 18.1 billion drams. ($1 – 484.47 drams). –0–
