YEREVAN, August 7, / ARKA /. Gross insurance premiums collected by seven Armenia-based insurance companies in the first half of 2014 slashed by 30 percent from the year before to 15.6 billion drams, according to ARKA news agency’s latest bulletin "Insurance Companies of Armenia" compiled for the second quarter of 2014.
The amount of reinsurance premiums in the first half of 2014 amounted to 1.403 billion drams, up from 1.302 billion drams collected in the first half of 2013.
The leading insurance company by size of profit was the Russian-owned Rosgosstrakh Armenia – over 5.26 billion drams. The figure represented a 7 percent decline from the year earlier. It was followed by Ingo Armenia –over 3.6 billion drams (down 23.4%).
Nairi Insurance came in third with about 2.6 billion drams (down 36.2%); Sil Insurance was fourth – about 1.6 billion drams (up 4.3%). It was followed by Reso – around 1.5 billion drams (a decline of 65.5%), Armenia Insurance -1.04 billion drams (up 3%) and Garant-Limens -1.8 million drams.
Gross insurance payments in the first half amounted to 13.7 billion drams, having increased by 41.2 percent, while reinsurance payments totaled 5.9 billion drams against 848 million drams in the same period last year.
The assets of Armenia-based insurance companies in the first half of 2014 stood at 43 billion drams, liabilities – at 27.8 billion drams, capital – at 15.2 billion drams. Their net profits in the second half amounted to 1.6 billion drams, up from 552.8 million drams in the first half of 2013. ($ 1 - 409.49 drams) -0-