Friday, May 21 2010 15:40
Assets of Armenian insurance companies up 15% for Q1 2010 to $42million
ArmInfo. Aggregate assets of the insurance market encompassing 10 companies grew 14.6% for Q1 2010 to 16.7bn drams ($42mn). Ranking of Armenian Insurance Companies prepared by the Agency of Rating Marketing Information (ArmInfo) says assets of Rosgosstrakh-Armenia and INGO- Armenia insurance companies exceeded 2bn drams.
The share of current assets in total was 87% or 14.5bn drams (up 16% for Q1 2010). Rosgosstrakh- Armenia ranked the first in terms of current assets with 2.3bn drams (96% of total assets of the given company). Nairi-Insurance was in the bottom in terms of currency assets with 0.946bn drams (60% of total assets of the given company).
The share of financial investments in assets was 68% or 11bn drams as of April 1 2010, which was 32% higher than a year ago. Rosgosstrakh-Armenia, INGO-Armenia and RASCO are in the lead in terms financial investments with 1.6bn drams, 1.5bn drams, and 1.4bn drams, respectively. Nairi-Insurance proved in the bottom in terms of financial investments with 0.6bn drams.
Aggregate short-term receivables of 10 insurance companies grew 10% for Q1 2010 and 45% as compared to April 2009 and reach almost 2bn drams (12% of total assets). ISG Insurance Company ranked the first in terms of short-term receivables (555mn drams or 37% of total assets of the given company). RASCO Company showed the lowest amount of receivables (27bn drams of 1.5% of total assets of the given company).
The share of monetary funds and equivalents in total assets was 7% or 1.1bn drams as of April 1 2010 (down 45% for Q1 2010 and 46% per year). Garant-Limens Company was in the lead in terms of monetary funds and equivalents with 444mn drams or 27% of total assets, whereas ISG Company was in the bottom with 7mn drams or 0.4% of total assets.
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