Thursday, December 8 2011 15:28
In Jan-Sept 2011 own capital of Armenia's insurance companies grew by 31.4%
ArmInfo. The own capital of the eight insurance companies of Armenia grew by 38.8% as compared with Oct 1 2010, by 31.4% in Jan-Sept 2011 and by 1.4% in Q3 2011 to 14.7bln AMD or $39.6mln.
According to ArmInfo's Ranking of the Insurance Companies of Armenia, as of Oct 1 2011 Rosgosstrakh-Armenia had the biggest own capital – 2.3bln AMD, followed by INGO-Armenia with 2bln AMD and Nairi Insurance with 1.8bln AMD. Sil Insurance had the smallest capital – 1.6bln AMD.
85% of the own capital or 11.9bln AMD ($31.2mln) was the authorized capital, 17.6% or 2.6bln AMD ($7mln) - the accumulated profit,
Six companies registered accumulated profit, two (RESO and Cascade Insurance) - loss.
INGO Armenia registered the biggest accumulated profit – 998.8mln AMD, followed by RASCO - 779.7mln AMD.
The liabilities of the companies totaled 12.9bln AMD - 7.6% less than in Q2 2011 and twice as much as Oct 1 2010. 22.5% of the liabilities or 2.9bln AMD were payables.
The reserves dropped by 11.1% in Q3 2011 and tripled as compared with Sept 2010 to 9.9bln AMD. As of Oct 1 2011 Rosgosstrakh-Armenia had the biggest reserves - 3.3bln AMD, followed by INGO-Armenia - 2.2bln AMD, Sil Insurance the smallest reserves – 0.4bln AMD.
In Jan-Sept 2011 Armenia's insurance companies collected 18.577bln AMD or $50.2mln in premiums (4 times as much as in Jan-Sept 2010) and paid 5.2bln AMD or $14mln in compensation (5 times as much as a year before).