Thursday, December 9 2010 15:19

Over Jan-Sep 2010 assets of Armenian insurance companies grew by 39,3% to $56.1 mln


ArmInfo. Over Jan-Sep 2010 the summary assets of 10 insurance companies of Armenia grew by 39,3%, and by 81,8% as compared with Jan-Sep 2009, having totaled 20.3 bln AMD ($56.1 mln) by 1 October 2010.

According to the Ranking of Insurance Companies of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), the top three insurance companies by the amount of assets includes Rosgosstrakh-Armenia (4.3 bln AMD), INGO-Armenia (3.2 bln AMD) and ISG (1.9 bln AMD). The fourth position was held by RESO (1.854 bln AMD), and the fifth place was held by Cascade Insurance (1.824 bln AMD).

In the structure of assets 94% or 19 bln AMD fell on the floating assets, the amount of which increased by 31,1% over Jan-Sep 2010, and by 107,7% as compared with the same period of 2009. By the amount of floating assets Rosgosstrakh-Armenia is in the lead - 4.2 bln AMD (97% of total assets of the company). The minimum amount of the floating assets (0.9 bln AMD - 77% of total) was fixed in SIL Insurance, Griar Insurance exclusive. To note, Griar Insurance is leaving the insurance market of Armenia.

By 1 October 2010 the share of current financial investments in the structure of assets made up 53,6% or 10.9 bln AMD, which is by 29,3% more than at the beginning of the year and by 71% higher than over the same period of 2009. By the amount of the current financial investments, the top three includes INGO Armenia – almost 2 bln AMD (61,6% of the total assets of the company), RASCO - 1.6 bln AMD (93,9%), Garant-Limens - 1.3 bln AMD (73,8%). The minimum amount was fixed in Rosgosstrakh-Armenia - 0.013 bln AMD (0,3% of total).

The summary short-term receivables of the 10 insurance companies of Armenia grew by 37,8% over Jan- Sep 2010, and by 140,4% as compared with Jan-Sep 2009, having totaled 5.2 bln AMD, their share in the total assets being 25,5%. The share of money funds and their equivalents in the total assets made up 11% or 2.2 bln AMD by 1 October 2010, having totaled by 18,4% over Jan-Sep 2010, and almost four times as compared with Jan-Sep 2009.

By the volume of money funds and their equivalents, Rosgosstrakh is in the lead - 1.1 bln AMD or 25% in the total assets of the company. The minimum amount was fixed in RASCO - 0.03 bln AMD or 1,5% in the total assets of the company, Griar Insurance exclusive.

To note, over the period under review 2 insurance companies already left the market: Alpha-Insurance (its main insurance portfolio being acquired by Rosgosstrakh-Armenia) and London-Yerevan (being merged with Rosgosstrakh-Armenia). In October 2010 the process of merger of Griar Insurance with INGO Armenia was over.
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