On "other costs" Pasha Sigorta spent almost half a million

Last year's revenues of Pasha Sigorta on the main types of financial activities, according to the financial statements confirmed by the auditor's report, were 47 million 467.94 thousand manats, which is 3 times more than more than in 2011. Most of them (46.25 mln) came directly from insurance premiums for reinsurance - 522.3 thousand manats, on investment income - 4 million 302.51 thousand manats. On the revenue side the final figure (44.9 million manat) was influenced by the reduction of net insurance reserves by 7 mln AZN.

Last year, the company's expenses totaled 41.42 million manat. The main item of expenditure may include insurance payments - 22.86 million manat, charges for maintaining insurance - 5.97 million manat, reinsurance risks - 11.98 million manat and so-called other expenses - 455.36 thousand manats.

Assets of insurance companies increased 27% and amounted to 60.51 million manat. The net financial income was 2.97 million manat. Obligations of the insurance company more than doubled, reaching 21.81 million manat, and the equity reached 38.71 million manat (11.1%). In the past year, to 34.4 million manat fell the amount of deposit (5%).

Insurance company Pasha Sigorta, which belongs to Pasha Holding, has operated on the local insurance market since June 2006. The authorized capital of the company last year increased 5.5 million to 35.5 million manat.

The company is licensed to provide services for 31 types of insurance, of which 26 are voluntary and 5 are mandatory. - 17D-