Assets of Ateshgah Hayat almost doubled

The total assets of the insurance company Ateshgah Hayat in the last year a total of 27 million 12.65 thsd manats (84.7% compared with the year-ago figures.) The company is attributable largely to an increase in the money supply and its equivalents.

This year, in connection with the expansion of the market of mandatory life insurance plans to increase assets, both long and short term.

According to the announcement of the results of the audit, the total income of the company in view of some commercial nuances 9 million 366.94 thousand manats. This is a result of the reduction of net insurance reserves at 8.89 mln AZN. For all types of insurance collected 16 million 764.57 thousand manats premiums. Investment income amounted to 1 million 385.07 thousand manats.

Liabilities increased by 2.1 times - up to 22 million 255.46 thousand manats, the volume of deposits in banks - in 2.2 times - up to 20 million 310.32 thousand manats, equity - 12.1 %, or up to 4 million 757.19 thousand manats.

Net income of Ateshgah Hayat on the basis of 2012 is 757.81 thousand manats, while at the end of the year before, the company had it much smaller - 111.75 thousand manats.

The main expenditure items - AZN 3,725,030 (+ 18 times) were spent on compensation for insurance claims, 3.95 million - on conducting insurance business. On taxes they spent 189.45 thousand manats.

Ateshgah Hayat was founded in March 1998. Until January 2009, the company operated under the name of Kavkaz Sigorta.

The bulk of the shares is owned by ISR Holding Ltd.

The authorized capital is AZN 4 million. - 17D-