ARMENIA: Insurers' consolidated net profit 74% up y-o-y
According to the same source by the, four out of the six insurance companies saw higher net profits, with two of them (INGO Armenia and RESO) reporting a 2.3 - 3-fold increase as compared with 1H2015.
However, ROSGOSSTRAKH Armenia maintained its leadership position in net profit terms, with AMD 1.2 billion (up 81.5% versus 1H2015), followed by INGO Armenia - AMD 523.7 million and NAIRI Insurance - AMD 426.3 million.
Insurance companies' assets in the first half of 2016 totaled AMD 40.2 billion, a growth of 3.5% from the beginning of the year; their liabilities fell by 2% to AMD 22.1 billion while the consolidated market capital grew by 11% to AMD 18 billion drams.
(Currency exchange: EUR 1= AMD 530.45, as at June 30th 2016)