YEREVAN, February 21, /ARKA/. In the fourth quarter of 2010 the total assets of Armenia-based insurance companies grew by 3.3 billion Drams or 16% from the previous quarter to 23.8 bullion Drams, according to an analysis made by ARKA news agency.
The eliding company by size of total assets was Rosgosstrakh-Armenia whose assets were worth as much as 5.1 billion Drams as of December 31, 2010, growing by 19.5% or 831.5 million. This company accounted for 21.5% of all assets of all companies.
Ingo-Armenia with 4.2 billion Drams worth assets was second. They grew by 30.7% in the fourth quarter of 2010 or by 988 million Drams to
17.7% of the aggregate assets of all companies. Cascade Insurance was third with 3.4 billion Drams worth assets. They grew by 87.9% or about 1.6 billion Drams to 14.43% of the aggregate assets. Nairi Insurance had 3 billion Drams worth assets which grew by 79% or 1.3 billion Drams (12.4% of the aggregate assets), Rasko had 2.2 billion Drams worth assets. They grew by 26.3% or 450.3 million Drams (9.1%).
The highest growth rate of 88% was reported by Cascade Insurance, Sil Insurance (79%) and Nairi Insurance (79%). There are 9 insurance companies in Armenia which operate 9 branches. ($1 – 365.83 Drams). -0-
