Thursday, March 4 2010 11:56
Assets of 12 Armenian insurance companies up 38% to $45 million for 2009
ArmInfo. Total assets of 12 insurance companies in Armenia were up 38% to 12 billion drams ($45 million) in 2009. Ranking of Armenian Insurance Companies prepared by Agency of Rating Marketing Information (ArmInfo) says the top three of leaders by the asset size were INGO-Armenia (2.1 bln drams), Cascade Insurance (1.9 bln drams) and Rosgosstrakh-Armenia and ISG (by 1.8 bln drams each).
In asset structure, the share of current assets was 83% or 14 bln drams, which was 46% higher than in 2008. Rosgosstrakh-Armenia was the leader by the current assets amounting to 1.8 bln drams (97% of company's total assets). ISG was the second by 1,7 bln drams (93% of total) and Cascade Insurance was the third by 1.6 bln drams (84% of total). Alfa-Insurance ensured the lowest current assets in the amount of 0.5 bln drams (99% of total).
The share of financial investments in assets was 58% of 9.8 bln drams as of Jan 1 2010, which was by 65% more than in 2008. Rosgosstrakh-Armenia was the leader by current financial assets ( 1.5 bln drams ). RASCO was the second (1.3 bln drams), Cascade Insurance was the third (1.2 bln drams) and Griar Insurance was the 4th (1.1 bln drams). The financial assets of ISG were the lowest (0.2 bln drams). Total short-term bills receivables of 12 insurance companies in Armenia fell 5% per year to 2.1 bln drams. The share in total assets was 12%. ISG showed the highest short-term bills receivables in the amount of 954 mln drams (53% of total assets). The short-term receivables of the remaining companies did not exceed 300 million drams. The short-term bills receivables of Alfa-Insurance were the lowest - 15 mln drams (2.8% of company's total assets).
The share of monetary funds and equivalents in total assets was 12% or 2 bln drams on Dec31 2009, which was 62% higher than in 2008. The leader by monetary funds and equivalents was ISG Insurance Company - 539 mln drams or 30% of total. The monetary funds and equivalents of Alfa-Insurance were the lowest - 14 mln drams or 3% of total assets of the company.
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