YEREVAN, June 1, /ARKA/. ARKA news agency has released a fresh issue of a quarterly bulletin ‘Indicators of Armenian Insurance Companies Performance’ for the first quarter of 2010.
We would like to draw our clients’ attention to the fact that in the first quarter of 2010 some Armenian insurance companies have shifted to IFRS financial reporting standards. As a result they have changed the alignment of items in their balance reports and financial statements. This divergence has brought about some problems for ARKA news agency to continue releasing the bulletin in its previous format. This is why we have to present a shortened version of the bulletin that includes only part of basic indicators. But once all insurance companies shift to single accounting standards we shall start compiling the bulletin with all indicators.
The quarterly bulletin is compiled based on officially published financial statements of insurance companies. The 8-page bulletin contains tabulated information reflecting different aspects of insurance companies’ activity. It consist of 6 chapters; 1. General description of insurance companies, 2. Assets, 3. Liabilities, 4. Capital, 5, Chartered capital, 6. Financial Results of Insurance Companies Activity.
ARKA information agency was established in 1996. It is specialized in reporting on financial, economic and political news. It issues several bulletins, including a quarterly bulletin Basic Indicators of Armenian Banks (since 1999), Credit Organizations of Armenia (since 2005), Financial Indicators of Banks (since 2006) and Indicators of Insurance Companies Performance since 2008. -0-
