Azerbaijani insurance company’s authorized capital increases thrice as result of 2008
Azerbaijan, Baku, April 1 / Trend U. Ismayilova /
Assets of Azerbaijani insurance, reinsurance company and broker of legal entities Atesgah Sigorta increased 2.16 times to 17.48 million manat as a result of 2008 compared to 2007, the company's balance report published officially said. Audit conclusion regarding the company's report was submitted by independent local auditor of the Azerbaijani Auditors Chamber.
Atesgah Sigorta's long-term assets hit 5.26 million manat within this period, an increase of 1.8 times compared to beginning of the year, short-term - 12.218 million manat (growth 2.3 times). Deposit accounts of the company hit 4.179 million manat in 2008.
Atesgah Sigorta's paid authorized capital hit 2.7 million manat (growth three times) in 2008. The company completed the year with loss in the amount of 415,000 manat; undistributed profit of the last years hit 1.638 million manat.
Atesgah Sigorta's long-term obligations hit 10.885 million manat, an increase of 2.1 times compared to 2007, short-term - 92,406 manat (growth 13.6 times), totally, capital and obligations increased 2.16 times and reached 17.48 million manat.
Atesgah Sigorta's incomes hit 13.905 million manat but expenditures - 14.32 million manat as a result of 2008.
On April 1, the official exchange rate is 0.8029 manat to $1.
Do you have any feedback? Contact our journalist at [email protected]