ARMENIA-based insurers earned AMD 4.058 billion in net profit in 2016
Armenia-based six insurance companies earned a total of 4.058 billion drams in net profit in 2016, up from 2.672.8 billion drams they had earned in 2015 (51.8% increase), according to ARKA news agency's bulletin "Insurance Companies of Armenia" for the fourth quarter of 2016. All six companies closed the past year with a profit, whereas in 2015 two companies reported losses.
The leading company by size of net profit was Rosgosstrakh-Armenia, which earned 1.636.9 billion drams, up from 1.131.7 billion drams earned in 2015 (a 44.6% growth). It was followed by Ingo Armenia with 939.4 million drams worth net profit (93.7% growth), Nairi Insurance - 882.9 million drams (33.9% growth), Armenia Insurance - 384.3 million drams (decline of 9.5%), RESO - 205.3 million drams (in 2015 it reported 16.4 million drams worth losses) and Sil Insurance - 9 million drams (in 2015 it sustained 11.6 million drams worth losses). Read the full story