Wed, 29 October
17.1 C
Yerevan
USD: 382.78 RUB: 4.78 EUR: 446.44 GEL: 140.95 GBP: 509.98

Armenian insurance companies double net profit in quarter one

YEREVAN, May 18. /ARKA/. Six Armenia-based insurance companies earned more than 1.3 billion drams in net profit in the first quarter of 2016, up from  631.6 million drams they had earned in the same time span of 2015, according to ARKA news agency’s  bulletin “Insurance Companies of Armenia” for the fourth quarter of 2015.

All six insurance companies closed the quarter with profit. The leading company by the size of net profit was Rosgosstrakh-Armenia with 611.5 million drams, up from 248.3 million drams, earned in the first quarter of 2015.

With 235.4 million drams of net profit Nairi Insurance was second, a 42% growth from the year-before. Ingo Armenia earned 203.2 million drams, up from 5.7 million drams earned in the first quarter of 2015. Armenia Insurance with 156.7 million drams (a growth of 32.5%) was fourth; it was followed by Reso with 83.5 million drams (a growth of 85%) and Sil Insurance – 16.4 million drams (a decline of 66%)

Insurance companies’ assets in the first quarter stood at 40.3 billion drams (a growth of 3.8%). Their liabilities amounted to 22.6 billion drams (a growth of 0.3%) and their capital grew by 8.6% to 17.6 billion drams.  ($1 – 478 drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

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.

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.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

LATEST NEWS

spot_imgspot_imgspot_img