Mon, 6 October
27.1 C
Yerevan
USD: 382.76 RUB: 4.67 EUR: 449.25 GEL: 140.62 GBP: 514.85

Armenian insurance companies post 77% drop in net profit

YEREVAN, November 26. /ARKA/. Six insurance companies operating in Armenia earned a total of 387.5 million drams in net profit in the first nine months of this year, down from 1.711 billion drams they had earned a year earlier. The drop amounted to 77.4%, according to “Insurance Companies of Armenia,” a quarterly bulletin, issued by ARKA news agency for the third quarter of 2018.

Four of these companies closed the first nine months with profit. They are Ingo Armenia, Nairi Insurance, Armenia Insurance and Reso, while Rosgosstrakh-Armenia and Sil Insurance suffered losses.

The leading company by size of net profit was Ingo Armenia, which earned 229.5 million drams, down from 308.7 million drams a year ago (a 25.6.% decrease). Nairi Insurance posted a profit of 210.6 million drams (a decline of 45.5%), Armenia Insurance reported 190.5 million drams in net profit (a decline of 45.2%) and Reso reported 11.2 million drams in profit against 52 million losses a year ago.

Rosgosstrakh-Armenia’s s losses amounted to 69.4 million drams against a profit of 753.5 million drams earned in the first nine months of 2016. And Sil Insurance’s losses amounted to 184.9 million drams, up from 32.6 million losses sustained a year ago.

The aggregate assets of Armenian insurance companies in the third quarter of 2018 stood at 45.8 billion drams, their liabilities amounted to 27.7 billion drams and their capital to 18.1 billion drams. ($1 – 484.47 drams). –0–

spot_img

POPULAR

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

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.

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

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

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img