Income of Standard Insurance in the past year amounted to 21,768,920 manats. Most of this (17.2 million) was in premiums.
Thus, according to the financial report published in the official press, the net profit is small - 1,043,480 manats (minus 350,000 compared with results in 2012).
Among the costs, priority belongs to insurance benefits - 8.2 million, professional activities were spent 7.25 million manat, and reinsurance inferred 4.7 million manat. By local standards, there were many returned premiums - 473,530 manat.
Shareholders' equity of the financial structure for the year increased by 6.9 %, amounting to 12.1 million manat, assets and liabilities decreased same - 3.7 and 12.5 %, respectively. The volume of deposits in bank accounts has not changed - 4,425,000 manats.
Standard Insurance, a member of the Group of Companies AB Standard, has two regional offices and an extensive agent network in the capital and regions of the country , as well as a subsidiary in the Republic of Georgia , and conducting business as an insurance company.
Standard Insurance has been operating in the insurance market since October 2002. In October 2007, the company was transformed into a joint stock company (JSC). It provides services for 24 types of voluntary and 5 types of compulsory insurance.
The authorized capital of the company is 11 million manat.
The shareholder is a legal entity. - 17D-
Economics
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Russia and Iran have agreed on a gas pipeline route passing through Azerbaijan, according to Russia’s Energy Minister Sergey Tsivilyov. The Russian minister stated that the parties are in the final stage of negotiations, and the volumes have already been determined. According to Tsivilyov, Iran’s agreement with Russia’s Gazprom for gas supply via Azerbaijan is currently estimated at over 2 billion cubic meters annually. However, future supplies could increase to 55 billion cubic meters per year.
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On January 20 during the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan engaged in a strategic dialogue with Nick Studer, CEO of Oliver Wyman Group.
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During the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan met with Jared Cohen, President of Global Affairs at The Goldman Sachs Group, Inc. The meeting underscored the ongoing collaboration between Goldman Sachs and Azerbaijan's financial institutions, notably the Central Bank of Azerbaijan and the State Oil Fund.
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At the World Economic Forum in Davos, Azerbaijan's Minister of Economy, Mikayil Jabbarov, participated in the session titled "Leaders’ Circle: Financing the Energy Transition – A New Horizon." Jabbarov emphasized discussions on existing opportunities and major challenges in achieving successful energy transformation, underscoring the critical importance of financing the energy transition.
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