YEREVAN, December 25, /ARKA/. Armenian insurance companies collected a total of 5.8 billion Drams of insurance premiums in the first nine months of the year. According to an analysis of insurance companies’ activities, made by ARKA, the leaders were ASJ company that collected 1.4 billion Drams of insurance premiums and Ingo Armenia-1.2 billion Drams. The least of premiums were collected by Resco-40.4 million Drams and Alfa Insurance-95.1 million Drams.
The reinsurance share totaled 49.36% or 2.9 billion Drams. Ingo Armenia was the leader in terms of collected net reinsurance premiums, which totaled 647.7 million Drams. It was followed by Cascade Insurance with 391.3 million Drams of collected net reinsured premiums.
The companies paid in the first nine months a total of 1.5 billion Drams of insurance payments, including 742.6 million Drams (50.68%) paid by reinsurance companies. The leader was Rasco with 409.5 million Drams, followed by Ingo Armenia-349.3 million Drams. Other companies paid a total of 175 million Drams.
In January-September the insurance payments to insurance premiums ratio was 25.17%. The highest ratio of 272.34% was reported by Rasco.
There are 12 insurance companies in Armenia with aggregate assets of 14,2 billion Drams and 4.3 billion Drams liabilities. At the end of September, 2009 their equity capital totaled 9.9 billion Drams, the aggregate capital stood at 7.9 billion Drams. They all earned 1.4 billion Drams of net profits in the first nine months of the year. Insurance companies are supervised by Central Bank of Armenia. -0-
