
Net Income of Standard Insurance Decreased Significantly
More than by half (minus 55.2%) reduced last year's net profit of the insurance company Standard Insurance. At the end of 2013 it stood at 1 million 43.48 thousand manat, but last year this figure amounted to 467.62 thousand manat.
According to the financial statements confirmed by the audit, the total income of the financial structure in the past year amounted to 25 million 375.31 thousand manat. The largest share was of purely insurance premiums - 16 million 705.25 thousand manat, reinsurance received 1 million 44.37 thousand manat, and income from investments - 502.05 thousand manat, etc.
The company's expenses amounted to 24 million 907.69 thousand manat. Here in the first place were reinsurance risks - 9 million 666.64 thousand manat and expenses for insurance activities - 7 million 383.2 thousand manat. In the third place there were net insurance payments - 7 million 99.9 thousand manat, and return for premiums - 649.2 thousand manat.
Assets of insurance companies increased by 9.5% to 26 million 425.44 thousand manat, liabilities - by 16.4% - to 13 million 886.7 thousand manat, capital - 2.7% - to 12 million 538.74 thousand manat.
But the amount of deposits placed with banks decreased (minus 11.3%) - to 3 million 922 thousand manat.
JSC Standard Insurance has acted on the local insurance market since October 2002. The shareholder of the company is a single legal entity. The authorized capital of the company is 11 million manat. --17D-
-
- Economics
- 31 March 2015 13:55
Economics
-
Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
-
U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
-
Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
Leave a review