XalqSigorta Ends Year with Profit

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-

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