Friday, May 21 2010 15:40
Total shareholders' equity of insurance market of Armenia up 16% for Q1 2010 to $30.5mn
ArmInfo. Total shareholders' equity of the insurance market of Armenia encompassing 10 companies was up 16% for Q1 2010 to 12,2bn drams ($30.5mn). As compared to Q1 2010 this indicator grew over 70%. The share of statutory capital was 79% or 9.7bn drams ($24mn).
Ranking of Armenian Insurance Companies prepared by Agency of Rating Marketing Information (ArmInfo) says that RASCO and INGO Armenia are top 2 insurance companies in terms of shareholders' equity with 1.7bn drams and 1.6bn drams, respectively. RESO Insurance Company ensured the lowest shareholders' equity in the amount of 0.965bn drams. Summary current liabilities of ten insurance companies totaled 4.5bn drams as of April 1 2010 (up 44% per year to 27% of liability and capital). The share of currency payables in total currency liabilities was 35% of 1.6bn drams. Insurance reserves grew 43% per year to 2.7bn drmas. The share in current liabilities was 61%. Rosgosstrakh-Armenia was in the lead in terms of insurance reserves (852mn drams). ISG Insurance Company was in the bottom with 43mn drams insurance reserves.