Thursday, March 4 2010 12:01
Equity capital of 12 insurance companies of Armenia grew by 54% up to $24.3 mln in 2009
ArmInfo. As of 31 December 2009 the aggregate size of the equity capital of 12 insurance companies of Armenia amounted to 12.4 bln drams ($33 mln), which is by 54% more than in 2008. The share of the authorized capital was 88% or 11 bln drams
($29 mln).
According to the ranking of insurance companies prepared by ArmInfo, insurance company «RASCO» is the leader by the size of the equity capital -1.6 bln drams, «INGO Armenia» is the second - 1.5 bln drams, then come «Cascade Insurance» and «Rosgostrakh-Armenia» - 1.2 bln drams each. Minimal size of the equity capital was fixed at «Alfa-Insurance» company - 0.4 bln drams, which lower of the normative level. As of 31 December 2009 the aggregate current liabilities of 12 insurance companies amounted to 4.6 bln drams, having grown by 8% up to 27% in equities as against
2008. In their structure the share of the current accounts payable 38% or 1.8 bln drams with annual falling by 35%. The share of the insurance reserves in the current liabilities was 58% or 2.7 bln drams which is by 25% lower of the index of 2008. «Rosgosstrakh-Armenia» is the leader by the size of the insurance reserves - 538 mln drams. Minimal volume of insurance reserves was fixed at «Alfa-Insurance» - 79 mln drams.