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-
