Friday, December 16 2011 21:18

Central Bank of Armenia reissues RASCO's license due to cancellation of two insurance classes


ArmInfo. The Central Bank of Armenia has decided to reissue RASCO's license due to the cancellation of two insurance classes - insurance of railway transport and insurance of guarantees.

Now RASCO will have eleven non-life insurance classes.

According to ArmInfo's Ranking of Insurance Companies of Armenia, as of Sept 30 2011 RASCO was most active in compulsory motor third-party liability insurance, comprehensive automobile insurance, cargo insurance, property insurance and insurance of people going abroad.

In Jan-Sept 2011 the company's premiums grew by 8 times due mostly to compulsory motor third-party liability insurance (80% of all premiums) During the same period the company's compensation grew by 58%.

As of Oct 1 2011 RASCO's assets totaled 2.4bln AMD (38% annual growth), own capital - 1.8bln AMD (+13.3%), premiums - 940mln AMD, compensation - 260.2mln AMD, net profit - 219mln AMD (15 times as much as a year before).
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Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
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