Mon, 20 October
8.1 C
Yerevan
USD: 382.59 RUB: 4.71 EUR: 447.25 GEL: 141.36 GBP: 513.89

Armenia’s insurance companies posted 2,350.4 mln drams in net profit in nine months

YEREVAN, November 6. /ARKA/. Armenia’s insurance companies posted 2,350.4 million drams in net profit as of the end of the third quarter 2014, as compared to 338 million in loss in the same period of the year before, according to ARKA’s “Insurance companies of Armenia” quarterly bulletin for Q3 2014.

Six out of seven insurance companies operating in Armenia recorded profit in the period, but the last one – Sil Insurance – suffered loss of 87.5 million drams (compared to 72mln in profit in Q3 2013).

According to ARKA’s analysis, Rosgosstrakh-Armenia had the largest net profit in the period – 747 million drams compared to 407.24 mln in loss in the same period of 2013.

Ingo Armenia is the second with 670.48 million drams in profit (73.6mln in loss in nine months of 2013), followed by Garant-Limens with about 294mln drams (382.25mln loss in nine months of 2013), Armenia Insurance with 292.8mln (176.5mln in profit respectively), Reso – 219.86mln (136.8mln in loss), Nairi Insurance 213.7mln (413.2mln in profit).

In general, Armenia’s insurance companied completed the year 2013 with a loss of 933 million drams against the profit of 525.4 mln drams in 2012.

Assets of Armenia’s insurance companies amounted to 44.1 billion drams in January-September 2014; liabilities were 27.2bln drams and capital was 16.9bln drams.

As of the end of September 2014, there were seven insurance companies in Armenia. Garant Insurance merged with Rosgosstrakh-Armenia in early 2014. ($1=413.51drams). –0–

spot_img

POPULAR

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Armenia is experiencing an investment boom: opportunities, barriers and main misconceptions

Armenia's investment market is experiencing a period of active development: the number of issues is growing, digital technologies simplify access to financial instruments.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

Investor of the new era: how the capital management culture is changing in Armenia

Interest in investments in Armenia is growing, but it is too early to talk about an established capital management culture.

LATEST NEWS

spot_imgspot_imgspot_img