TOTAL VOLUME OF EQUITY CAPITAL OF 11 ARMENIAN INSURANCE COMPANIES GROWS BY 48% OVER A YEAR

ArmInfo
2009-11-23 09:43:00

ArmInfo. Total volume of equity capital of 11 Armenian insurance
companies by October 1, 2009 made up 9.3 bln drams ($24.3 mln), that
exceeds the similar period, 2008, by 48%, and over 9 months, 2009 –
by 25%. Moreover, about 80% or 7.4 bln drams ($19.2 mln) fell on the
authorized capital.

According to the data of Ranking of Armenia’s insurance companies,
prepared by Agency of Rating Marketing Information (ArmInfo), the
equity capital of INGO Armenia insurance company, Rosgosstrakh-Armenia
and RASCO companies exceeded 1 bln drams. ISG Company had the minimum
size of equity capital – 0.4 bln drams, that is lower the standard
mark. Total current liabilities of 11 insurance companies made up
4.3 bln drams as of October 1, 2009, having increased by 15% per
annum, and over 9 months, 2009 – by 1%. 41% or 1.8 bln drams in their
structure fell on the current bill payable, with 8% annual growth and
4% reduction over 9 months. The share of insurance reserves in the
current liabilities made up 56% or 2.4 bln drams ($6.2 mln), with 25%
annual growth and 10% growth over 9 months. INGO-Armenia leads by
the size of insurance reserves – 407 mln drams. Alfa-Insurance has
the minimum volume (48 mln drams).