YEREVAN, February 25. / ARKA /. Seven Armenia-based insurance companies closed 2013 with a total loss of 933 million drams against a profit of 525.4 million drams in 2012, according to “Insurance Companies of Armenia” bulletin for the IV quarter of 2013, compiled by ARKA news agency.
Incidentally, only two companies closed the past year with profits. They are Nairi Insurance and Armenia Insurance. Nairi Insurance earned 514.4 million drams in net profit, up from 207.9 drams net profit earned in 2012. Armenia Insurance earned 297.5 million drams in net profit against 402.6 million drams in the previous year.
Sil Insurance, Reso, INGO ARMENIA, Rosgosstrakh Armenia and Garant Limens closed the past year with a total losses of 1.7 billion drams.
Sil Insurance reported 25.5 million drams worth losses against 187.4 million drams losses in 2012. Reso sustained 258.6 million drams losses against a profit of 127.9 million drams in the previous year . INGO ARMENIA closed last year with a loss of 440.6 million drams against 114 million drams profit in 2012.
Rosgosstrakh Armenia reported 442.6 million drams loss and Garant Insurance reported 577.4 million drams losses against a profit of 233.5 million drams in 2012.
Assets of all seven insurance companies stood late last year at 47.2 billion drams (a growth of 25.7%), their liabilities upped 40.4 percent to 32.7 billion drams and their total capital rose by 1.7 percent to 14.4 billion drams.-0-
