The total assets of the insurance company Pasha Hayat Sigorta for the last year amounted to a total of 30 million 543.42 thousand manats, which is twice more than in the year before. 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 the form of insurance premiums amounted to 10 million 972.94 thousand manats. The decline in net insurance reserves of 5.3 bn revenue fell to 7.46 mln. Investment income amounted to 1 724.2 million manats.
Phenomenal, by local standards, was also the net income of Pasha Hayat Sigorta in 2012 - 3 million 585.48 thousand manats, while at the end of the year before, the company had to account for less than a million - 2.57 million manat.
Decision of the majority shareholder with more than 8 million manats (not related to the cost of the company) of personal funds used to increase share capital. The main expenditure items are as follows: 359.65 thsd manats spent on compensation for insurance claims, 615.15 thousand manats - for reinsurance. On taxes and other fiscal transfers spent a total 957.94 thousand manats. This year's profits, designed to increase the share capital, the structure of the said insurance is not.
Insurance company Pasha Hayat Sigorta started actual operation in mid-February 2011.
The founder of the company is a commercial structure Pasha Holding.
The registered capital is 15.05 million manat. - 17D-
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