Growth of Opportunities of Pasha Hayat Sigorta

The report of the insurance company Pasha Hayat Sigorta for the last year has been published.

Its assets by 31 December amounted to 148 million 568 thousand manats (+ 61.8% per year), while the liabilities increased more (+ 97.1%), reaching 92 million 898.78 thousand manats with shareholders' equity at 55 million 669.21 thousand manats (+ 24.5%).

The total revenues were at the level of 46 million 878.51 thousand manats with negative insurance reserves at 34 million 993.37 thousand manats, which led to a decrease in the gross indicator. Insurance premiums were at the level of 54 million 513.13 thousand manats, investments - 9 million 215.07 thousand manats, and there were other revenues.

The total expenditures in the reported period amounted to 27 million 555.75 thousand manats with net payments on insurance cases in 16 million 349.52 thousand manats and the operating expenses of 9 million 530.17 thousand manats.

The net profit of the specialized insurer was at the level of 15 million 406.48 thousand manats (an increase of 3.6 times per year).

JSC Pasha Hayat Sigorta with registered capital of 40.25 million AZN has been operating in the local market on the basis of the license from the Ministry of Finance from February 14, 2011. All the shares are held by the investment multidisciplinary Pasha Holding. --17D-