YEREVAN, May 20. /ARKA/. Armenia’s insurance companies posted 631.6 million drams in net profit as of the end of the first quarter 2015, as compared to 900.5 million in profit in the same period of the year before, according to ARKA’s “Insurance companies of Armenia” quarterly bulletin for Q1 2015.
All six insurance companies operating in Armenia recorded profit in the reporting quarter, with Rosgosstrakh-Armenia having earned the largest profit in the period, 248.3 million drams, as compared to 286.3 million drams in the same period of the year before.
According to ARKA’s analysis, Nairi Insurance is the second with 165.7 million drams in profit (189.9 mln in profit in Q1 2014), followed by Armenia Insurance with 118.2 million drams (3.7% increase), Sil Insurance with 48.4 mln drams (38.5 mln drams in loss in Q1 2014), Reso – 45.1 mln drams (81.3% decline) and Ingo Armenia with 5.7 mln drams (95% decline).
Assets of Armenia’s insurance companies amounted to 40.1 billion drams in the first quarter of this year (5.3% decline); liabilities were 25 bln drams (13% decline) and capital was 15.1 bln drams (increase of 10.8%).
As of the end of the first quarter 2015, there were six insurance companies in Armenia. ($1=482.27drams). –0–
