Losses of Ata Sigorta Replaced by Profits

The assets of the insurance company Ata Sigorta in the past year increased by more than half to 15 million 154 thousand manats. Most of the growth reflected the accumulation of deposits - 10.39 vs. 6.52 million manat two years earlier.

The company's revenues, according to the company's financial statements, the auditor's report confirmed for the reporting period amounted to 8 million 672 thousand manats. From income on insurance premiums accounted for 9 424 million manat, premiums for reinsurance - 1 million 421 thousand manats on investment income earned 784.11 thousand manats.

Net reserves of the company decreased by 3 million 284.06 thousand manats, which affected the level of income. By the way, last year's net loss is not an obstacle to forward the decision of the owner of AZN 5 million to increase the authorized capital, which fulfilled the eve of Novruz.

Last year, the company's expenses amounted to 8 million 115.18 thousand manats. The main item of expenditure may include insurance payments - 2 million 750.73 thousand manats, return of premium - 268,301 manats, deductions for management of insurance business - 3 million 928.1 thousand manats, the risks for reinsurance - 890,360 manats.

Last year's net financial income was 474.61 thousand against losses in 2011 of 283.92 thousand manats.

Liabilities of insurance companies rose by 90.8% to 8 million 252.069 thousand manats.

The company Ata Sigorta, which is one of the founders and a member of the Bureau of Compulsory Insurance is on the insurance market since 2004 and operates with 22 types of voluntary and 4 types of compulsory insurance.

The paid-up share capital of the company in February reached 7.6 million manat.

The network of Ata Sigorta consists of four branches and four representative offices. - 17D-