Net profit of Standard Insurance in the past year was less than 5 % of revenues

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-