Published the Annual Report by Chartis Azerbaijan

The assets (current and non-cumulative) of the insurance company "Chartis Azerbaijan" in the past year increased by 4% to 9 million 151.31 thousand manats.

The company's revenues, according to the company's financial statements, the auditor's report confirmed for the reporting period amounted to 1 million 787.82 thousand manats, all they had on insurance premiums. The volume of deposits placed in banks, increased by 1.5 times - up to 5 million 403.84 thousand manats.

Unlike other companies, have increased net insurance reserves - up to 761.95 million manat. By the way, on the basis of 2012 recorded 143.65 million manat - 3 times more than in 2011.

Last year, the company's expenses totaled 1.64 million manat. The main items of expenditure include insurance payments - 129.64 thousand manats, deductions for conducting insurance business - 672.2 million manat, the risks for reinsurance - 333.17 million manat, etc. Liabilities of insurance companies rose by 8% to 2 million 512 thousand manats.

The insurance company Chartis Azerbaijan has been operating in Azerbaijan since 1999. Previously, instead there were a subsidiary of AIG (American International Group), providing services of general insurance (other than life insurance) in Azerbaijan.

Now, instead of an organization with 49 per cent of the British American capital structure with 100% foreign (English) capital (filed October 15, 2010), which provides services for 10 types of insurance.

The authorized capital of the company amounts to 6 million 786,5 thousand manats. - 17D-


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