The authorized capital of the insurance company Baki Sigorta at the end of last year rose by more than a million, amounting to 6 million 523.84 thousand manats.
Total revenues for the last year amounted to 6 million 568.4 thousand manats, which is 23.75% more than in 2011 - when there were 5.01 million manat. Of the funds received 5.28 million manat fell directly on the collection of premiums for all types of insurance.
This is the result of last year's audit of the company. Net income of the financial institution in the past year amounted to 523.87 thousand manats - they told Turan in the company. Commission on the transfer of funds for reinsurance totaled 587.94 thousand manats, and investment income - 365.11 thousand manats.
The company's expenses for the year 2012 amounted to 5 million 911.17 thousand manats. Insurance payments last year was 2 million 621.42 thousand manats, to conduct insurance business - 1 million 760.33 thousand manats. Costs of risks transferred to reinsurance, amounted to 1 million 235.12 thousand manats, there are other, non-essential spending.
Last year, the company's assets increased by 24.6% to 15 million 372.69 thousand manats, liabilities - by 25.3% (to AZN 7 mln 454.82 thsd), shareholders' equity increased by 23.9% (to AZN 7 million 917.88 thsd).
The so-called pre-tax profit amounted to 657.21 thousand manats, net profit - 523.87 thousand manats. During the reporting period, the amount of deposits placed in banks, significantly (28.2%) increased - up to 5 million 885.89 thousand manats.
The insurance company has been operating since the beginning of February 1994.
In 2004, it was granted a license for a period of 5 years. In 2009 the company received a license to a perpetual activity.
The majority shareholder (51%) and the founder of Baki Sigorta is Bank Respublika. In addition, the assets belong to three other entities (30%) and two individuals (19%).
The company operates through 24 voluntary and 4 compulsory insurance types. - 17D-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review