Baku, Azerbaijan, April 10
By Emin Aliyev - Trend:
As of the activity in 2013, Azerbaijani insurance company Qala Heyat Sıgorta's assets amounted to 17.57 million manat increasing by 57.86 percent compared to 11.13 million manat as of the beginning of the year, according to the company's balance sheet.
The company's financial statements were audited by CACS Audit.
As of late 2013, the company's long-term assets amounted to 1.91 million manat, short-term - 15.66 million manat.
The company accumulated 13.65 million manat in cash and cash equivalents, 0.78 million manat on the settlement account, 12.85 million manat on the deposit account in 2013, according to the report.
As of 2013, the company's paid share capital hit 5.005 million manat. It remained unchanged within the year. The company's total capital as of late 2013 amounted to 7.66 million manat increasing by 31.62 percent compared to 2012.
The company's total liabilities amounted to 9.92 million manat increasing by nearly 87 percent.
As of 2013, the company's revenues amounted to 6.78 million manat , expenses - 4.3 million manat. The company completed 2013 with a net profit of 2.002 million manat.
Qala Heyat insurance company has been operating in Azerbaijan since November 2010 as a life insurance company. It renders the services on this type of insurance on the basis of the Finance Ministry's special permission. The company is a member of the Compulsory Insurance Bureau.
The official exchange rate is 0.7844 AZN/USD on April 10.
translated by NH
edited by CN