Key Figures On Insurance Market Are Declining

[Tatoyan Vazgen]

KEY FIGURES ON INSURANCE MARKET ARE DECLINING

ArmInfo
2007-05-21 20:47:00

In Jan-Mar 2007 the aggregate pre-tax profit of the insurance companies
of Armenia totalled 150.8mln AMD ($416,000) against 1.033bln AMD
($2.3mln) in Jan-Mar 2006.

The press service of the CB of Armenia reports that in Jan-Mar 2007 the
amount of the premiums of the insurance companies of Armenia totalled
1.484bln AMD: 1.144bln AMD - life insurance premiums, 1.484bln AMD -
nonlife insurance premiums. Last year the index totalled 4.032bln AMD.

The amount of insurance reserves totalled 1.3bln AMD, the amount of
insurance compensations - 179.4mln AMD. The share of reinsurance in
the total amount of compensations made up 89.1mln AMD.

32,100 contracts worth a total of 3,933bln AMD were made in Jan-Mar
2007, of them 96.8% were reinsured. Last year this index totalled
21,590bln AMD with reinsurance making up 95.9%.

In Jan-Mar 2007 the assets of the insurance companies of Armenia
totalled 7.6bln AMD against 11.7bln AMD a year before. The aggregate
capital totalled 5.1bln AMD against 5.9bln AMD, the aggregate
authorized capital - 4.8bln AMD against 5.7bln AMD.

A total of 12 insurance companies acted in Armenia in Jan-Mar 2007
against 18 in Jan-Mar 2006.