The net profit of the insurance company Ipek Yolu Sigorta last year was 2,643,610 manats (minus 7.7% or 420,000 in comparison with the results of a year ago).
According to the financial report, the total income of the insurer was 20.6 million manat , of which the most weighty position was premiums (16.58 million). From reinsurance there was obtained 657,630 manat, and investment income made up 872,010 manats.
Expenses were at 17.3 million manat. Here the leader is risks given to reinsurance - 13.21 million manat and return for premiums - 3.1 million manat (almost one fifth of the premiums collected). Running the business was spent not much - 714 210, and insurance payments were little - 87,030 manat.
Assets grew almost (+0.1 %) - 22,089,160 manats, but liabilities, including short-term, increased by 30.6% (7.28 million), while equity reduced by 4.5% to 14.81 manats.
The volume of deposits placed in banks decreased by 2.5% to 5,514,250 manat.
JSC Ipek Yolu Sigorta has been operating in the insurance market of Azerbaijan since 1996. The company's share capital is 12,092,500 manats.
The shareholders of the company are the airline Silk Avia, JSC AZAL and one individual. -17D-
Economics
-
Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
-
The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
-
On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
-
Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
Leave a review