Assets of AzRe Grow

The assets of the only local reinsurance company AzReTekrarsigorta were at the level of 98 million 691.09 thousand manats as of 1 January of the year (+ 17.1% YoY), and the liabilities - 29 million 179.88 thousand manats (+ 1.6%).

According to the structure of financial statements certified, its total revenue amounted to 66 mln. 101.38 thousand manats with investment income of 4 million 98.12 thousand manats. Last year's winners were at the level of 50 million 715.55 thousand manats (+ 9% per year).

Expenses (48 million 113.95 thousand manats) are premiums passed for reinsurance abroad (20 million 599.44 thousand manats), payments on an insured event occurred (16 million 692.34 thousand manats) spending on maintenance of insurance (7 million 666.66 thousand manats), the return of premiums (2 million 156.84 thousand manats) and some less significant positions.

The company's net profit stood at 14 million 171.28 thousand manats (+ 18.5% YoY) with equity at 69 million 511.21 thousand manats (+ 25.1%). Deposits of the bank accounts in the country and abroad on 1 January amounted to 53 million 176.54 thousand manats.

JSC AzReTekrarsigorta with the authorized capital of 40 million AZN operates under the Ministry of Finance license from October 2007. The Chairman of the Board is Fuad Guliyev. --17D-