OWN CAPITAL OF INSURANCE COMPANIES TOTAL 7.4BLN DRAMS IN ARMENIA BY END OF SEPTEMBER
ARKA
Oct 24, 2008
YEREVAN, October 24. /ARKA/. Own capital of the eleven insurance
companies operating in Armenia had totaled 7.4bln Drams by the
end of September this year against 7.1bln Drams at the end of the
second quarter, the Press Service of the Central Bank of Armenia
(CBA) reported.
Accumulated earnings of insurance companies were 593.5mln Drams at
the end of the third quarter, including 547.7mln of profit of the
current period.
Total volume of authorized stock of these companies had amounted
to 6.6bln Drams by the end of September against 6.3bln Drams in the
beginning of the year.
Aggregate assets of Armenian insurers had totaled 11.5bln Drams by
September 30 against 11.6bln Drams at the end of June with cash assets
totaling 25.7mln Drams against 32.3mln Drams in the beginning of the
third quarter.
Liabilities of Armenian insurance companies totaled 4.2bln Drams with
insurance funds amounting to 2,152.4mln Drams.
Since January 1 2006 the Central Bank of Armenia has been implementing
control over the insurance market through the unified financial
supervision system.
Today eleven insurance companies and five insurance brokers operate
in Armenia. ($1=309.11Drams).