Saturday, October 20 2012 17:20
Net profit of Armenia's insurance companies has halved in the past year
ArmInfo, In Q3 2012 as compared with Q3 2011 the net profit of Armenia's insurance companies has halved to 1.1bln AMD or $2.7mln.
According to ArmInfo's Ranking of Insurance Companies of Armenia, RESO had the highest profit in Q3 2012. In Jan-Sept 2012 the net profit of the company made up 345.4mln AMD (53.5% more than in Jan-Sept 2011). The second is RASCO with 336mln AMD, the third Nairi Insurance with 259.4mln AMD. Rosgosstrakh Armenia recorded the lowest profit - just 59.2mln AMD. Sil Insurance registered a loss of 103.5mln AMD.
In Q3 2012 alone the net profit of Armenia's insurance companies totaled 930mln AMD - twice as much as in Q3 2011. Garant Insurance had the biggest net profit - 487mln AMD, INGO Armenia the smallest one - 42.7mln AMD. Rosgosstrakh Armenia and Sil Insurance registered losses of 105.9mln AMD and 133mln AMD, respectively.
In Q3 2012 Armenia's insurance market grew by 22.5% to 30bln AMD or $73.8mln. The premiums grew by 63% to 9.8bln AMD.