Slight Net Profit at Ateshgah

OJSC Ateshgah finished last year with a net profit of 250.47 thousand manat against the 182.39 thousand at the end of 2013 (+ 37.3%).

According to the financial statement supported by the auditor's report, the total income of one of the leading insurers amounted to 37 million 546.3 thousand manat. The largest share was of insurance premiums - 35 million 316.45 thousand manat, and the investment income brought 756.11 thousand manat.

The expenses were at the level of 37 million 233.21 thousand manat. This included insurance payments (15 million 173.56 thousand manat), conducting insurance business (15 million 218.15 thousand manat), risks transferred to reinsurance (4 million 787.85 thousand manat), return for premiums (1 million 92.43 thousand manat), etc.

The total assets increased by 6.8% to 31 million 996.02 thousand manat and the liabilities increased by 25.8% to 24 million 677.28 thousand manat, with a drop on equity by 0.2% to 7 million 318.74 thousand manat.

The volume of deposits of the company, placed in banks, also declined by 9.3% to 7 million 384.9 thousand manat.

The insurance company Ateshgah was established in 1996. Its shareholders are several legal entities. The authorized capital is 5 million 8.5 thousand manat. --17D-