YEREVAN, February 25. /ARKA/. The aggregate net profits of Armenia’s insurance companies has shrunk 69% to AMD 215.4 million in 2018 from AMD 699.5 million in 2017, according to ARKA News Agency’s bulleting ‘Insurance Companies of Armenia’.

The news agency’s analysis shows that of the country’s six insurance companies, three – Ingo Armenia, Armenia Insurance and Nairi Insurance – ended the year 2018 with profits, while the other three – RESO, Gosstrakh-Armenia and Sil Insurance - sustained losses that year.

Ingo Armenia was the flagship insurance company in the country in 2018 with its net profit amounting to AMD 221.7 million drams against AMD 501 million in 2017 (a 55% decline).

Armenia Insurance came second in the ranking with its AMD 203.2 million (a 6.5% decline), and Nairi Insurance third with AMD 176 million (a 41.5% growth).

RESO lost AMD 68.3 million in 2018 against AMD 430.4 million I a year before, Rosgosstrakh-Armenia AMD 137.1 million against AMD 523.4 million respectively and Sil Insurance AMD 180.1 million against AMD 235.2 million.

The insurance companies’ assets totaled AMD 47.3 billion in 2018 and liabilities AMD 29.3 billion. Their aggregate capital amounted to AMD 18 billion. ($1 – AMD 488.71). --0---