Total Loss Of Armenian Insurance Companies More Than 26 Billion Dram

TOTAL LOSS OF ARMENIAN INSURANCE COMPANIES MORE THAN 26 BILLION DRAMS

Panorama.am
17:06 18/10/06

Central Bank sources told Panorama.am that insurance reserves made up
27.5 billion drams in the running year. The sharp rise of the indicator
is connected with the formation of company Grand which paid money
to the relatives of A -320 airliner crash. Large volumes of reserves
ended up in negative balance of own capital of insurance companies –
20.6 billion drams. Despite of the fact that each insurance company
has gained some profit, they totally demonstrated loss of 26 billion
drams.

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