Friday, March 13 2015 17:43

Armenian Insurance Companies Reduced Their Assets by 7.5% in 2014


ArmInfo. As of January 2015 the total assets of the Armenian insurance companies (IC) reduced by 7.5% and made 40.6 billion AMD. In Q3 2014 the assets reduced by 3.8%.

According to "ArmInfo" News Agency's ranking of the Armenian ICs, three of six insurance companies had an annual decrease of assets. "RESO" had the biggest decrease - 43.1% (quarter decrease of 12.1%). "Nairi Insurance" had a decrease of 14.5% (a 4.9% growth for Q4); "Ingo Armenia" - 7.4% (a 4.4% decrease for Q4). "Armenia Insurance" had a 12.7% growth of assets (5% for Q4), "ROSGOSSTRAKH Armenia" - 9.9% (7% for Q4) and "SIL Insurance" - 4.3% (a 0.3% quarter decrease).

The annual decrease of assets is mandated by monetary contraction and its equivalents for 28.9% (a 89.5% Q4 increase), current financial investments - 28.3% (8.7 Quarter decrease); short-term receivables - 17.4% (7.1% quarter decrease), current assets - 1.1% (a 6.8% quarter decrease). The current assets accounted for 85% or 34.4 billion AMD; current financial investments - 58% or 23.5 billion AMD, short-term receivables - 21.5% or 8.7 billion AMD in total. The noncurrent assets accounted for 15,3% or 6.2 billion AMD, key figures and their equivalents - 9.5% or 3.8 billion AMD.

According to the source, "Ingo Armenia" comes first with 12.084 billion AMD assets. Then comes "ROSGOSSTRAKH Armenia" with 11.996 billion AMD assets. "Nairi Insurance" is the third leader with 5.034 billion AMD assets. Then come "Armenia Insurance" with 4.173 billion AMD, "Reso Insurance" with 4.161 billion AMD and "SIL Insurance" with 3.154 AMD.

To note, Armenian insurance companies provide 16 out of 19 insurance lines registered in Armenia. INGO Armenia is the only company to provide all the 16 insurance lines. Rosgosstrakh Armenia provides 15 insurance lines, Sil Insurance, Armenia Insurance and RESO provide by 11 insurance lines, while Nairi Insurance provides only 10.
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