Monday, March 26 2012 23:03
Profit of insurance market of Armenia up more than fourfold in 2011
ArmInfo. In 2011 the aggregate net profit of the Armenian insurance companies amounted to 2.4 bln AMD or $6.2 mln, with the growth versus 2010 being more than fourfold. In Q4 2011 versus Q4 2010 the aggregate net profit of the insurers grew more than twofold.
According to the Ranking of Insurance Companies of Armenia by the Agency of Rating Marketing Information (ArmInfo), Rosgosstrakh Armenia is in the lead with 540.4 mln AMD profit. Over 2011 the company increased its profit more than threefold. INGO Armenia ranks next with 537.5 mln AMD, Nairi Insurance is the third with 533.1 mln AMD. RASCO holds the fourth position with 287.3 mln AMD, and RESO holds the fifth position with 245.2 mln AMD. The last position belongs to Cascade Insurance with 56.4 mln AMD. The Ranking says that over Q4 2011 the net profit of 8 insurance companies was 163.4 mln AMD against 728.5 mln loss over Q4 2010.
In Q4 4 companies ensured profit, and the other 4 completed Q4 with loss. The biggest profit for Q4 was registered by INGO Armenia - 181.2 mln AMD. The biggest loss was fixed by Garant Limens - 49.2 mln AMD. RESO, Rosgosstrakh Armenia and Cascade Insurance completed Q4 with the loss of 47.6 mln AMD, 13.1 mln AMD and 2.1 mln AMD respectively.
The aggregate profit of insurance companies allowed increasing the ROE and ROA to 16.4% and 7.7% respectively. Nairi Insurance is in the lead by ROE and ROA - 28.7% and 13.5% respectively. The last position belongs to Cascade Insurance - 3.2% and 1.5% respectively.
ATI.SU: Demand for international cargo transportation 30% up in Armenia
Civil Contract nominates Armen Ktoyan for Central Bank Board Member position
Armenia, France considering prospects for expanding technological cooperation