Profit Of Armenian Insurance Companies Makes About 574 Million Drams

PROFIT OF ARMENIAN INSURANCE COMPANIES MAKES ABOUT 574 MILLION DRAMS AT END OF THIRD QUARTER OF 2007

Noyan Tapan
Nov 6, 2007

YEREVAN, NOVEMBER 6, NOYAN TAPAN. As of September 30, 2007, the
overall assets of Armenian insurance companies made 8 bln 420 mln
772 thousand drams (over 25 mln 551.7 thousand USD) – against 8
bln 128 mln 401 thousand drams as of August 30, 2007. According
to data of the Central Bank of Armenia (CBA), the overall monetary
resources of these companies on the indicated dates amounted to 116
mln 194 thousand drams and 122 mln 537 thousand drams respectively,
their fixed assets – to 484 mln 642 thousand drams and 486 mln 297
thousand drams, own capital – 5 bln 434 mln 456 thousand drams and
5 bln 206 mln 682 thousand drams, and their authorized capital –
4 bln 765 mln 177 thousand drams and 4 bln 686 mln 727 thousand drams.

The Armenian insurance companies’ bills paybale concerning budgetary
and compulsory social insurance payments made 36 mln 497 thousand
drams as of September 30, 2007 and 31 mln 504 thousand drams as of
August 30; their bills receivable – 294 mln 283 thousand drams and
279 mln 783 thousand drams respectively; insurance reserves – 1 bln
614 mln 880 thousand drams and 1 bln 559 mln 18 thousand drams.

Insurance premiums of the insurance companies on the indicated dates
made 4 bln 384 mln 949 thousand drams and 3 bln 930 mln 971 thousand
drams; insurance premiums transferred to reinsurers – 2 bln 91 mln
118 thousand drams and 1 bln 916 mln 884 thousand drams respectively.

The total amount of insurance compensation sums of the insurance
companies amounted to 496 mln 259 thousand drams as of September 30,
2007 and 453 mln 675 thousand drams as of August 30, 2007; the share of
reinsurers in insurance compensation made 195 mln 368 thousand drams
and 181 mln 556 thousand drams; the total amount of insurance sums –
1 trillion 639 bln 930 bln 628 thousand drams and 2 trillion 492 bln
880 mln 272 thousand drams.

The undistributed profit of the insurance companies made 573 mln
908 thousand drams as of September 30, 2007 and 506 mln 175 thousand
drams of August 30, 2007.

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