Wednesday, May 23 2012 16:25

Insurance market of Armenia ends 1Q with $1.7 mln loss


ArmInfo. The insurance market of Armenia ended the 1Q 2012 with 691.1 mln drams ($1.7 mln) loss. At the same time, the accumulative profit of 8 Insurance Companies grew by 11,6% versus 1Q 2011, and fell by 32% for the 1Q 2012, having amounted to 1.8 bln drams.

Only two insurance companies out of 8 have finished the 1Q 2012 with a profit - insurance company "Garant Limens" - with a profit 31.3 mln drams and "RASCO" - 6.5 mln drams. The biggest loss was fixed at "Rosgosstrakh Armenia" - 345 mln drams. This company ended the 1Q 2011 with profit 487.2 mln drams. To note, "Rosgosstrakh Armenia" is the leader by the volume of premiums gathered in 2011.

"INGO Armenia" insurance company has also ended the 1Q 2012 with a serious loss - 181 mln drams. The company ended 1Q 2011 with a profit 154.5 mln drams. The loss of the insurance company "Nairi Insurance" in the 1Q 2012 amounted to 83.4 mln drams, "RESO" - 62.4 mln drams. The least loss was fixed at the insurance company "Sil Insurance" - 14.5 mln drams. This company occupies the last position practically on all the key financial indices.

According to the Ranking of insurance companies, in the 1Q 2012 Armenian insurance companies gathered premiums 12.3 bln drams, and paid about 3 bln drams.
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