Increased investment of Azersigorta in tangible assets

Early last year, the state-owned commercial insurance company "Azersigorta" invested in buildings and equipment AZN 442.26 thsd and by the end of the year - 632 thousand manats. And it had a net profit of 2 million 413.74 thousand manats, which is a record for it.

According to the company's financial statements, the auditor's report confirmed that, last year, the total income of the company amounted to 42 million 641.73 thousand manats.

Insurance premiums were at 34 million 583.77 thousand manats, income from premiums ceded to reinsurers - 7 million 634.15 thousand, investment income - 287.08 thousand manats. Income influenced by the reduction of insurance reserves by 2.36 million manat.

The total expenditure of the company for the past year amounted to 40 million 228 thousand manats. The volume of insurance payments - 11.94 million, the funds allocated to reinsurance - 21.14 million, to conduct insurance business - 7.14 million manat.

Last year the company's assets increased by 31.7% - to 27.17 million manat, the liabilities - by 35.3% to 19.75 million manat. Equity capital of the company reached 7.41 million manat, which also disproportionately compared to the sum of 5.76 million manat a year before.

The volume of deposits placed in banks amounted to 4.39 million manat (4.4%).

The company Azersigorta was created in 1991. At the end of 2009-2011, it was the leader in Azerbaijan in terms of premiums collected and made insurance payments. It is licensed to provide services to 28 voluntary and 10 compulsory insurance.

Azersigorta on March 28, 2012 also received a license to provide three types of compulsory insurance, including insurance of immovable property belonging to citizens.

The registered capital is 5 million manats. - 17D-