YEREVAN, August 26. / ARKA /. ARKA News Agency has published its quarterly “Performance Indicators of Insurance Companies of Armenia” for the second quarter of 2010.
We draw customers’ attention to the fact that in the process of transition to the reporting standards of IFRS from the first quarter of 2010, some of the companies have had dramatic changes through the grouping of the balance sheets and financial statements.
The heterogeneity of reporting of insurance companies made it difficult to issue the bulletin in the previous format.
ARKA News Agency has to provide a shortened version of the newsletter, which includes only part of the main indicators.
However, with the transition of all insurance companies to standardized reporting, the detailed breakdown on the performance of companies will be provided as before.
The product is based on officially published data and reflects their activities of the financial statements of insurance companies.
The “Insurance Companies of Armenia” newsletter has about eight pages of tabular material on various indicators of insurance companies and consists of 6 main sections: 1.General characteristics of insurance companies. 2. Assets. 3. Obligations. 4. Capital. 5. Paid-in capital. 6. Financial performance of insurance companies.
The information contained in the bulletin gives the opportunity to present an overall picture of the financial standing of insurance companies in Armenia and make a comparative analysis of their activities.
ARKA News Agency has operated since May 1 of 1996 and specializes in financial, economic and political information.
The agency has issued its quarterly bulletin “Indicators of the activities of Armenian banks” since 1999 and “Crediting organizations of Armenia” quarterly bulleting since March 2005.
Since May 2006 ARKA News Agency has issued “Financial indicators of banks” per the data of annual independent audits.
Starting from July 2008, the agency has issued “Indicators of the activities of insurance companies of Armenia” quarterly bulletin. –0-
