by Elita Babayan
The insurance companies of Armenia have completed the 1Q 2014 with a net profit 1.2 billion AMD. According to the insurance Ranking of Arminfo, the net profit grew by 3,6 times versus the indicator of 2013, and almost fourfold versus the indicator of 2012. The insurance companies had a loss 650 million AMD for the 1Q 2012.
According to the results of the 1Q 2014, the biggest profit was registered at "Garant Insurance" - 324.5 million AMD. The second is "Rosgosstrakh Armenia" with a net profit 286.3 million AMD. The third is "RESO" - 241.5 mln AMD, the forth - "Nairi Insurance" - 190 mln AMD and the fifth - "Armenia Insurance" - 113.9 mln AMD. "INGO Armenia" is the last by the level of net profit - 107.4 mln AMD. And "Sil Insurance" has completed the 1Q 2014 with a loss - 38.5 million AMD.
The insurance companies of Armenia gathered 10.1 billion premiums for the 1Q 2014 and paid about 5 billion AMD to insurants. The insurance charges of seven Armenian insurance companies reduced by 10% versus the 1Q 2013, but the sum of the insurance compensation grew almost twofold.
As of 1 April 2014, 7 insurance companies have been functioning at the Armenian market. 16 out of 18 types of insurance have been functioning in Armenia.