AzSigorta One of Best-capitalized Insurers

Total revenues of the insurance company AzSigorta for the last year amounted to 33 million 349.56 thousand manats, AZN 10 million (almost a third) more than in 2011. This is one of the results of the audit of the company last year. In 2011, premiums for all types of insurance totaled 39 million 666.49 thousand manats.

Net income in the last year was 12 million 180.56 thousand manats, which is almost 23 times more than in 2011, they- they told Turan in the company. 

The commission on the transfer of funds for reinsurance totaled 202.52 thousand manats, investment income - 1 million 658.15 thousand manats. The net insurance reserves of the company fell to 10 million 650.22 thousand manats, which had an impact on raising the level of income. Other income for the year was received in other areas.

The company's expenses in 2011 amounted to 18 million 123.87 thousand manats. Insurance payments last year amounted to 3 million 820.25 thousand manats, return of premium - 2 million 643.15 thousand manats (anti-record structure), to engage in the insurance business - 9 842.55 million manats.

Costs of risks transferred to reinsurance, amounted to 1 million 413.35 thousand manats, there are other, non-essential spending.

Last year, the company's assets increased by 60.8% to 54 million 803.59 thousand manats, the liabilities - by 66% (21 million AZN 946.14), and the equity - 57.5% (32 AZN 857.45 million). The so-called pre-tax profit was AZN 15 million 225.7 thsd (record for the company), and the net profit - 12 million 180.56 thousand manats.

During the reporting period, the amount of deposits placed in banks increased by 89.9% - up to 19 million 831.4 thousand manats.

The authorized capital of the company increased from 19.86 million to 20.3 million manat.

AzSigorta's license to operate was issued in November 2006.

The shareholder of AzSigorta is a single individual.

The company has a license to provide insurance on 28 items, 24 of which are voluntary types and 4 are binding types. Last year, it became the second of the leading local insurers.

It has 6 branches in the country. - 17D -