Baku, Azerbaijan, April 3
By Abbas Akhundov -Trend:
Azerbaijani insurance company Pasa Heyat Sıgorta's assets as of 2013 amounted to 51.735 million manat increasing by nearly 70 percent compared to 30.543 million manat at the beginning of the year, according to the company's balance sheet.
The company's financial statements were audited by Kaspian Konsaltinq.
The company's long-term assets as of late 2012 amounted to 423,780 manat, short-term to 51.31 million manat.
The company accumulated 47.36 million manat in cash and cash equivalents in 2013. There is 6.92 million manat on the settlement account, while 40.4 million manat on the deposit accounts, according to the report.
The company's paid authorized capital as of 2013 hit 25.2 million manat compared to 15.05 million in 2012. The company completed 2013 with a net profit of 8.07 million manat.
The company's total capital as of late 2013 amounted to 33.43 million manat increasing by by almost 80 percent compared to 2012.
The company's total liabilities amounted to 18.31 million manat, increasing by nearly 53 percent.
As of 2013, the company's revenues amounted to 16.01 million manat, expenses to 5.86 million manat.
Pasa Heyat Sıgorta is the most capitalized company among life- companies in the country (Atesgah Heyat and Qala Heyat). Pasa Holding is a sole shareholder and shareholder of the company.
The official exchange rate is 0.7843 AZN/USD on April 3.
Translated by NH
Edited by CN