YEREVAN, September 8, /ARKA/. The total capital of Armenian insurance companies shrank by 5.41% in the second quarter of 2010 or by 662 million Drams to 11.6 billion Drams.
According to a study made by ARKA news agency, the number one company by capital size was Rasco that had 1.6 billion Drams at the end of June. 2010. It dropped by almost 5% or 82.9 million Drams in the second quarter. Its capital accounted for around 14% in the overall capital of all insurance companies.
The second largest company in terms of capital size was Ingo Armenia with 1.5 billion Drams that made
13.26% of the overall capital of insurance companies. It was followed by Cascade Insurance with 1.25 billion Drams (10.77%), Rosgosstrakh Armenia – 1.19 billion Drams (10.27%) and Nairi Insurance – 1.1 billion (9.32%).
In terms of charter capital the three leader banks were Rosgosstrakh Armenia (1.2 billion Drams), Cascade Insurance (around 1.188 billion Drams) and ISG (1.136 billion Drams). There are ten insurance companies in Armenia with nine branches. ($1 – 363.5 Drams). -0-
