AzerSigorta Finished Last Year with Net Profit of 2 748 170 Manat

The state-owned commercial insurance company AzerSigorta finished last year with a net profit of 2 million 748.17 thousand manat (+ 33.7%).

According to the official information on the financial statements confirmed by the auditor's report, its revenues for the period totaled 51 million 422.96 thousand manat. Most of this were insurance premiums that amounted to 41 million 560.54 thousand manat, commission on the transfer of funds for reinsurance was 3 million 367.19 thousand Manat and investment income was 252.87 thousand manat. Other income was for other items.

Expenses were at the level of 47 million 987.74 thousand manat. Leading here are risks ceded for reinsurance - 26 million 438.62 thousand manat. The volume of insurance payments was 13 million 315.8 thousand manat and the costs of the insurance business were 8 million 40.91 thousand manat.

The assets decreased by 14.3% to 29 million 794.02 thousand manat and the liabilities - by 26.1% to 18 million 858.81 thousand manat with an increase of equity capital by 18.2% to 10 million 935.21 thousand manat.

Also increased the authorized capital (+ 7.1%), reaching 7.5 million manat. The volume of deposits of banks amounted to 4 million 873.89 thousand manat (+ 5%).

JSC AzerSigorta was created in 1991. It specializes mainly on compulsory insurance. --17D-