The net profit of the insurance company XalqSigorta last year was 2 million 204.18 thousand AZN (+ 15.7% to 2013).
According to the report on the basis of the financial statements confirmed by the auditor's report, its joint income amounted to 14 million 703.08 thousand manat. The largest share of insurance premiums (11 million 178.97 thousand manat), investment income was 2 million 230.91 thousand manat.
The company's expenses amounted to 11 million 940.02 thousand manat. The leading positions were three. To conduct insurance business they spent 3 million 931.3 thousand manat, payments on matured proven cases were 3 million 868.38 thousand manat, risks of ceded reinsurance were 3 million 658.39 thousand manat, andother costs were for other items.
According to the report, the company's assets increased by 5.04% - to 40 million 824.29 thousand manat, the equity - to 7.25% - up to 32 million 587.89 thousand manat and the liabilities decreased by 2.9 % to 8 million 236.4 thousand manat.
By the beginning of this year, the funds on deposit accounts of the company amounted to 32 million 441.18 thousand manat (an increase of 3.4%).
JSC XalqSigorta has been operating in the insurance market of Azerbaijan since April 2006. The shareholders are several individuals. The authorized capital of the company is 30 million 372.9 thousand manat. --17D-
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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