Monday, November 11 2013 19:05
In Q3 2013 assets of Armenia's insurance companies dropped by 7.5%
ArmInfo. In Q3 2013 the assets of Armenia's insurance companies dropped by 7.5% to 46.2bln AMD or $114.1mln.
According to the Ranking of the Insurance Companies of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), as compared with Q3 2012 the assets of the companies grew by 22%.
Rosgosstrakh Armenia, INGO Armenia and RESO had the biggest assets - 11.5bln AMD (28.4% growth as compared with Q3 2012), 10.9bln AMD (14% growth) and 8.7bln AMD (72.3% growth), respectively. Garant Insurance had the smallest assets - 2.7bln AMD.
87% of the assets were floating assets (40bln AMD). As compared with Q2 2013 this index dropped by 7%, but as compared with Q3 2013 it grew by 22%. 60.7% of the floating assets were current financial investments (28bln AMD), which grew by 30% as compared with Q3 2012. The short-term receivables grew by 14% as compared with Q3 2012 and dropped by 21.6% as compared with Q2 2013 to 10.4bln AMD. The share of cash in the assets made up 1.8% or 824.1mln AMD (11% more than in Q3 2012 and 12.6% less than in Q2 2013).
During the same period the total capital of the companies dropped by 2% to 14.6bln AMD or $36mln.
The authorized capital made up 90.8% of the total capital or 13.2bln AMD, the accumulated profit made up 5.7% or 826mln AMD. As compared with Q2 2013 the accumulated profit dropped by 10.7%, as compared with Q3 2012 it dropped by 72.5%.
Armenia Insurance, Nairi Insurance and Ingo Armenia registered accumulated profits of 1.4bln AMD, 792.4bln AMD and 225mln AMD, respectively, with Rosgosstrakh Armenia, RESO, Garant Insurance and Sil Insurance recording respective losses of 782.3mln AMD, 535mln AMD, 160.4mln AMD and 103.2mln AMD.
In Q3 2013 as compared with Q2 2013 the current obligations of the companies dropped by 10% to 31.7bln AMD. As compared with Q3 2012 they grew by 34%. In their structure current payables made up 8.6% or 2.7bln AMD (18% less than in Q2 2013 and 54% less than in Q3 2013).
During the period the insurance reserves of the companies dropped by 15% to 18.4bln AMD.
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