Incomes of Azerbaijani insurance companies exceed AZN 200mln in Jan-Sep
Azerbaijan, Baku, Dec. 20 / Trend corr. U.Ismayilova / The income of 28 insurance companies (as well as one re-insurance company) operating in Azerbaijani totaled AZN 202.9mln in Jan-Sept 2008, Azerbaijani Finance Ministry reported on Dec. 20.
The premiums of the companies during this period totaled AZN 146.41mln, including collections from re-insurance - AZN 5.39mln, re-payment of insurance reserves - AZN 24mln, incomes from the investment of insurance reserves - AZN 6.03mln. The aggregate profits from the insurance activity composed AZN 15mln, other expenditures composed AZN 11.52mln.
Insurance companies expenditures comprised AZN 187.5mln (insurance payments - AZN 36.9mln, transfers to insurance reserves - AZN 58.21mln, re-insurance payments - AZN 53.62mln, expenditures for administrative purpose - AZN 29mln, expenditures for insurance activities - more than AZN 9mln).
During the reported period, the balance profit of the companies totaled AZN 15.35mln, balance loss was not observed.
The payments of insurance companies to the budget composed AZN 906.7mln, means for the fund collections composed AZN 580,200, for the consumer fund - AZN 1.7mln, for the charitable activities - AZN 25,100, for other purposes - AZN 949,300.
Over the past nine months, Azerbaijani insurance companies paid income tax amounting to AZN 1.49mln, profit tax - AZN 3.5mln, VAT - AZN 38.46mln, property tax - AZN 71,900, excises - AZN 0, other taxes - AZN 1.4mln, economic sanctions - AZN 45.3mln.
Official rate on Dec. 20 is - 0.8013 AZN/USD.
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