YEREVAN, February 21. /ARKA/. Armenia-based six insurance companies earned a total of 4.058 billion drams in net profit in 2016, up from 2.672.8 billion drams they had earned in 2015 (51.8% increase), according to ARKA news agency’s bulletin "Insurance Companies of Armenia" for the fourth quarter of 2016. All six companies closed the past year with a profit, whereas in 2015 two companies reported losses.

The leading company by size of net profit was Rosgosstrakh-Armenia, which earned 1.636.9 billion drams, up from 1.131.7 billion drams earned in 2015 (a 44.6% growth). It was followed by Ingo Armenia with 939.4 million drams worth net profit (93.7% growth), Nairi Insurance - 882.9 million drams (33.9% growth), Armenia Insurance – 384.3 million drams (decline of 9.5%), RESO – 205.3 million drams (in 2015 it reported 16.4 million drams worth losses) and Sil Insurance - 9 million drams (in 2015 it sustained 11.6 million drams worth losses).

The assets of Armenian insurance companies by the end of 2016 stood at 43.4 billion drams (a 13.2% growth from 2015); their liabilities amounted to 23.9 billion drams (growth by 8.8%) and their capital was worth 19.5 billion drams ( increase of 19.2%). ($ 1 - 486.81 drams) -0-

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The list of Armenia’s 1000 largest corporate taxpayers in 2016 includes all six insurance companies, operating in the country, which paid about 2.09 billion drams in taxes, up from 1.77 billion drams they had paid in 2015

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Six Armenia-based insurance companies collected a total of 12.9 billion drams of premiums for mandatory car insurance in the third quarter of 2016

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ARKA news agency has released a fresh issue of its regular bulletin “The Insurance Companies of Armenia” for the third quarter of 2016

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Armenia’s insurance companies expect that their profits will be growing throughout three years and will double by late 2018, the Central Bank of Armenia says in its report ‘Possible Developments of Armenia’s Banking Sector in 2016-02018’ based on programs of prospective development of Armenian banks

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Six Armenian insurance companies collected a total of 12.7 billion drams in mandatory vehicle insurance premiums in the first 9 months of 2015 and paid 6.1 billion drams in compensation claims, according to ARKA news agency’s latest bulletin “Insurance Companies of Armenia” for the third quarter 2015

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Six Armenia-based insurance companies collected a total of 22.5 billion drams of insurance premiums in the first 9 months of 2015, a 0.13% year-on-year growth

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Net income of Armenia-based six insurance companies in the first 9 months of 2015 grew to 2.394.1 billion drams from 2.056.3 billion drams in the same time span of 2014

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Armenia’s insurance companies posted 631.6 million drams in net profit as of the end of the first quarter 2015, as compared to 900.5 million in profit in the same period of the year before, according to ARKA’s “Insurance companies of Armenia” quarterly bulletin for Q1 2015

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Armenia’s insurance companies posted 2,350.4 million drams in net profit as of the end of the third quarter 2014, as compared to 338 million in loss in the same period of the year before, according to ARKA’s “Insurance companies of Armenia” quarterly bulletin for Q3 2014

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