Tuesday, February 28 2012 19:39
Own capital of Armenia's insurance companies up 30% in 2011
ArmInfo. In 2011 the own capital of Armenia's eight insurance companies grew by 29.4% to 15.1bln AMD or $39.1mln. In Q4 2011 the index grew by 2.3%.
According to the Ranking of Insurance Companies of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), the authorized capital made up 79% of the own capital or 11.9bln AMD ($30.9mln), the accumulated profit - 19% or 2.8bln AMD ($7.4mln).
Six companies registered accumulated profit, with RESO and Cascade Insurance recording 205.8mln AMD and 55.1mln AMD respective losses.
In 2001 the accumulated profit of Armenia's insurance companies grew by 16 times from 180mln AMD to 2.8bln AMD. In Q4 2011 the index grew by 10.1%. INGO Armenia registered the highest profit - 1.2bln AMD (twice as much as a year before).
The liabilities of the companies grew by 6.6% to 14.5bln AMD, wherein 40.6% are current payables (5.9bln AMD, 39.7% less than a year before).
Insurance reserves redoubled to 8.5bln AMD. The leaders are Rosgosstrakh-Armenia – 2.9bln AMD and INGO Armenia - 1.4bln AMD.