Shareholders' Equity Of Leading Insurance Companies Of Armenia Amoun

[Tigranian Ani]

SHAREHOLDERS' EQUITY OF LEADING INSURANCE COMPANIES OF ARMENIA AMOUNTS TO $21 MLN

ArmInfo
2008-11-19 17:21:00

ArmInfo. The sum size of the owners' equity of 9 insurance companies of
Armenia amounted to 6.3 bln AMD ($20.8 mln) as of 1 October 2008, which
is by 73% more if compared with the same period of 2007. The share of
the authorized capital was 86% or 5.4 bln AMD ($18 mln). According to
the Ranking of Armenian insurance companies, prepared by ArmInfo, 'INGO
Armenia' is leading by the size of owners' equity - 1 bln AMD ($3.32
mln), 'Alfa Insurance' occupies the second place - 988 mln AMD ($3.27
mln), 'RASCO' - the third place - 690 mln AMD ($2.3 mln). Minimal size
of the owners' equity was fixed at 'ISG' - 534 mln AMD ($1.8 mln),
which entered Armenian insurance market at the end of 2007.

Summary current liabilities of 9 insurance companies amounted to 3.7
bln AMD ($12.3 mln), having grown by 50% if compared with 2007. In
their structure the share of the current payables is 44% or 1.6 bln AMD
($5.4 mln), which is by 52% more if compared with the same period of
2007. The share of the insurance in the current liabilities amounted
to 51% or 1.9 bln AMD ($6.3 mln). Insurance reserves have grown by
36% if compared with the same period of 2007. 'Nairi Insurance' is
leading by the size of insurance reserves - 476.9 mln AMD ($1.6 mln),
'INGO Armenia' occupies the second place - 427.9 mln AMD ($1.4 mln)
and 'RASCO' - the third place - 281.2 mln AMD ($931 thsd.)