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In Q3 2013 assets of Armenia's insurance companies dropped by 7.5%
by Elita Babayan
ARMINFO
Tuesday, November 12, 15:22
In Q3 2013 the assets of Armenia's insurance companies dropped by
7.5% to 46.2bln AMD or $114.1mln.
According to the Ranking of the Insurance Companies of Armenia
prepared by the Agency of Rating Marketing Information (ArmInfo), as
compared with Q3 2012 the assets of the companies grew by 22%.
Rosgosstrakh Armenia, INGO Armenia and RESO had the biggest assets -
11.5bln AMD (28.4% growth as compared with Q3 2012), 10.9bln AMD (14%
growth) and 8.7bln AMD (72.3% growth), respectively. Garant Insurance
had the smallest assets - 2.7bln AMD.
87% of the assets were floating assets (40bln AMD). As compared with
Q2 2013 this index dropped by 7%, but as compared with Q3 2013 it grew
by 22%. 60.7% of the floating assets were current financial
investments (28bln AMD), which grew by 30% as compared with Q3 2012.
The short-term receivables grew by 14% as compared with Q3 2012 and
dropped by 21.6% as compared with Q2 2013 to 10.4bln AMD. The share of
cash in the assets made up 1.8% or 824.1mln AMD (11% more than in Q3
2012 and 12.6% less than in Q2 2013).
During the same period the total capital of the companies dropped by
2% to 14.6bln AMD or $36mln.
The authorized capital made up 90.8% of the total capital or 13.2bln
AMD, the accumulated profit made up 5.7% or 826mln AMD. As compared
with Q2 2013 the accumulated profit dropped by 10.7%, as compared with
Q3 2012 it dropped by 72.5%.
Armenia Insurance, Nairi Insurance and Ingo Armenia registered
accumulated profits of 1.4bln AMD, 792.4bln AMD and 225mln AMD,
respectively, with Rosgosstrakh Armenia, RESO, Garant Insurance and
Sil Insurance recording respective losses of 782.3mln AMD, 535mln AMD,
160.4mln AMD and 103.2mln AMD.
In Q3 2013 as compared with Q2 2013 the current obligations of the
companies dropped by 10% to 31.7bln AMD. As compared with Q3 2012 they
grew by 34%. In their structure current payables made up 8.6% or
2.7bln AMD (18% less than in Q2 2013 and 54% less than in Q3 2013).
During the period the insurance reserves of the companies dropped by
15% to 18.4bln AMD.
by Elita Babayan
ARMINFO
Tuesday, November 12, 15:22
In Q3 2013 the assets of Armenia's insurance companies dropped by
7.5% to 46.2bln AMD or $114.1mln.
According to the Ranking of the Insurance Companies of Armenia
prepared by the Agency of Rating Marketing Information (ArmInfo), as
compared with Q3 2012 the assets of the companies grew by 22%.
Rosgosstrakh Armenia, INGO Armenia and RESO had the biggest assets -
11.5bln AMD (28.4% growth as compared with Q3 2012), 10.9bln AMD (14%
growth) and 8.7bln AMD (72.3% growth), respectively. Garant Insurance
had the smallest assets - 2.7bln AMD.
87% of the assets were floating assets (40bln AMD). As compared with
Q2 2013 this index dropped by 7%, but as compared with Q3 2013 it grew
by 22%. 60.7% of the floating assets were current financial
investments (28bln AMD), which grew by 30% as compared with Q3 2012.
The short-term receivables grew by 14% as compared with Q3 2012 and
dropped by 21.6% as compared with Q2 2013 to 10.4bln AMD. The share of
cash in the assets made up 1.8% or 824.1mln AMD (11% more than in Q3
2012 and 12.6% less than in Q2 2013).
During the same period the total capital of the companies dropped by
2% to 14.6bln AMD or $36mln.
The authorized capital made up 90.8% of the total capital or 13.2bln
AMD, the accumulated profit made up 5.7% or 826mln AMD. As compared
with Q2 2013 the accumulated profit dropped by 10.7%, as compared with
Q3 2012 it dropped by 72.5%.
Armenia Insurance, Nairi Insurance and Ingo Armenia registered
accumulated profits of 1.4bln AMD, 792.4bln AMD and 225mln AMD,
respectively, with Rosgosstrakh Armenia, RESO, Garant Insurance and
Sil Insurance recording respective losses of 782.3mln AMD, 535mln AMD,
160.4mln AMD and 103.2mln AMD.
In Q3 2013 as compared with Q2 2013 the current obligations of the
companies dropped by 10% to 31.7bln AMD. As compared with Q3 2012 they
grew by 34%. In their structure current payables made up 8.6% or
2.7bln AMD (18% less than in Q2 2013 and 54% less than in Q3 2013).
During the period the insurance reserves of the companies dropped by
15% to 18.4bln AMD.