Published Annual Report of AzSigorta

The insurance company AzSigorta finished last year with a net profit of 14 million 844.67 thousand manat (minus 6.8% as of 1 January 2014). The profit before tax amounted to 18 million 555.84 thousand manat.

According to the company's financial statements confirmed by the auditor's report, its total revenue amounted to 41 million 813.92 thousand manat. The largest share fell on purely insurance premiums (36 million 563.69 thousand manat) and investment income (2 million 618.52 thousand manat). Premiums for reinsurance (235.62 thousand manat) were far behind, not to mention the other positions.

The company's expenses were at the level of 23 million 258.08 thousand manat. It is noteworthy that on the conduct of insurance business they spent 11 million 220.65 thousand manat, while the volume of insurance payments amounted to 9 million 977.65 thousand manat. The costs of the risks transferred to reinsurance were at the level of 1 million 443.12 thousand manat, etc.

With regard to the assets, they decreased by 7.4% to 58 million 368.91 thousand manat and the liabilities - by 14% to 22 million 767.28 thousand manat. The equity decreased by 2.7% to 35 million 601.63 thousand manat.

In 2014, the volume of deposits of the company placed in banks decreased by 1.5% to 27.5 million manat.

JSC AzSigorta received a license to operate in November 2006. The shareholder of AzSigorta is one individual. The authorized capital is 20.3 million manat. --17D-