YEREVAN, February 21. /ARKA/. Armenia-based six insurance companies earned a total of 4.058 billion drams in net profit in 2016, up from 2.672.8 billion drams they had earned in 2015 (51.8% increase), according to ARKA news agency’s bulletin “Insurance Companies of Armenia” for the fourth quarter of 2016. All six companies closed the past year with a profit, whereas in 2015 two companies reported losses.
The leading company by size of net profit was Rosgosstrakh-Armenia, which earned 1.636.9 billion drams, up from 1.131.7 billion drams earned in 2015 (a 44.6% growth). It was followed by Ingo Armenia with 939.4 million drams worth net profit (93.7% growth), Nairi Insurance – 882.9 million drams (33.9% growth), Armenia Insurance – 384.3 million drams (decline of 9.5%), RESO – 205.3 million drams (in 2015 it reported 16.4 million drams worth losses) and Sil Insurance – 9 million drams (in 2015 it sustained 11.6 million drams worth losses).
The assets of Armenian insurance companies by the end of 2016 stood at 43.4 billion drams (a 13.2% growth from 2015); their liabilities amounted to 23.9 billion drams (growth by 8.8%) and their capital was worth 19.5 billion drams ( increase of 19.2%). ($ 1 – 486.81 drams) -0-
