Last Year’s Financial Activities of Ata Sigorta Reported

The financial statements of the Ata Sigorta insurance company for the last year have been published. According to them, its assets on 1 January amounted to 31 million 681.71 thousand manats (+ 31.3%), with 16 million 180.32 thousand manats of liabilities and shareholders' equity of 15 million 501.38 thousand manats (+ 24.8%).

The volume of deposits in bank accounts in the country and abroad was at the level of 25 million 103.63 thousand manats (+ 48%).

Revenues of 1 January were at a level of 17 million 170.27 thousand manats, of which more than half (9.48 million) accounted directly for the insurance premiums, 786.2 thousand mantas was received for reinsurance and 1.74 million AZN – for investment income.

The costs were at the level of 15 million 251.75 thousand manats with payments of direct insurance of 4 million 256.53 thousand manats. Conducting insurance business was spent 5 million 880.88 thousand manats, return on premiums was 846 thousand AZN, and risks for reinsurance were 1 million 727.06 thousand manats.

Last year, the company worked with a net profit of 1 million 238.23 thousand manats (+ 8.2% yoy).

JSC Ata Sigorta with a capital of 12.4 million manats received a license for insurance activity from the Finance Ministry in September 2004. The only shareholder is the investment Ata Holding. --17D-