Net Loss of Azerbaycan Senaye Sigorta

JSC Azerbaycan Senaye Sigorta finished last year with a net loss of 1 million 539.75 thousand manat (in 2013 there was a net profit of 2 million 482.29 thousand manat).

According to the financial statements in the auditor's report, total revenues were at the level of 15 million 763.37 thousand manat. The greatest share was for insurance premiums (12 million 90.92 thousand manat), investment income brought 892.55 thousand manat, etc.

The company's expenses were at the level of 17 million 303.12 thousand manat. Also leading are direct insurance payments - 9 million 90.04 thousand manat, risks ceded to reinsurance - 2 million 862.65 thousand manat, conducting insurance business - 3 million 996.83 thousand manat, etc.

The past year was accompanied by a reduction in assets (minus 16.4%) to 20 million 582.26 thousand manat, capital (minus 15.3%) - to 9 million 471.56 thousand manat and liabilities (minus 17.3 %) - to 11 million 110.61 thousand manat.

The authorized capital has increased by more than a third (34.8%) to 11 million AZN. The volume of deposits of the company placed in banks increased by 1.7% to 10 million 924 thousand manat.

JSC Azerbaycan Senaye Sigorta is part of Azersun Holding. The shareholders are two legal entities - Azerbaycan Senaye Banki and LLC Anadolu Investment Company. --17D-