Revan Sigorta takes into account the "unsatisfactory" by the Ministry of Finance

Insurance company Revan Sigorta for two consecutive years reinforces the capitalization in terms of "bad" mark from the Ministry of the sample in 2010.

According to the report, supported by the auditor's report, last year the company's assets increased by 15.8% - to 11.38 million manat, equity - by 9.1% - to 6.28 million manat, liabilities increased by 24.1% - to 5.1 million manat.

The volume of the company's deposits with banks was left unchanged, i.e. 4.5 million manat. The company has also made investments in the amount of AZN 350 thousand for the purchase of real estate.

According to the company's financial statements, the auditor's report confirmed that, last year, the company's revenues amounted to 3 million 846.04 thousand manats. Including insurance premiums amounted to 3 million 267.25 thousand manats, investment income - 515.19 thousand manats. Other incomes for the year were received in other areas. On the revenue side of the final figure (3.17 million manat) influenced by the reduction of net insurance reserves by 1.29 million manat.

The company's expenses last year totaled 2.69 million manat. Among them there was a large part of total insurance payments - 1.18 million manat, and then there were the following positions: finance ceded for reinsurance - 819.83 thousand manats, return of premium - 80.45 thsd AZN, to conduct insurance business - 611.35 thousand manats, and so on.

Insurance company Revan Sigorta has been operating in Azerbaijan since 1998 and has a perpetual license for insurance activity. It previously operated under the name Star Alliance.

The authorized capital is AZN 4 million.

The company provides services for 19 types of insurance, including 2 mandatory types.

Since 2007, the financial structure in connection with the change of the founders has belonged to the company Nurgun. - 17D-