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-
Economics
-
Russia and Iran have agreed on a gas pipeline route passing through Azerbaijan, according to Russia’s Energy Minister Sergey Tsivilyov. The Russian minister stated that the parties are in the final stage of negotiations, and the volumes have already been determined. According to Tsivilyov, Iran’s agreement with Russia’s Gazprom for gas supply via Azerbaijan is currently estimated at over 2 billion cubic meters annually. However, future supplies could increase to 55 billion cubic meters per year.
-
On January 20 during the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan engaged in a strategic dialogue with Nick Studer, CEO of Oliver Wyman Group.
-
During the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan met with Jared Cohen, President of Global Affairs at The Goldman Sachs Group, Inc. The meeting underscored the ongoing collaboration between Goldman Sachs and Azerbaijan's financial institutions, notably the Central Bank of Azerbaijan and the State Oil Fund.
-
At the World Economic Forum in Davos, Azerbaijan's Minister of Economy, Mikayil Jabbarov, participated in the session titled "Leaders’ Circle: Financing the Energy Transition – A New Horizon." Jabbarov emphasized discussions on existing opportunities and major challenges in achieving successful energy transformation, underscoring the critical importance of financing the energy transition.
Leave a review