Azerbaijan, Baku, March 30 / Trend U.Ismayilova /
The assets of the Azerbaijani-Turkish OAO Basak-Inam Sıgorta insurance company hit 3.742 million manat in 2009, with a 34.37-percent increase compared to 2008.
During the reporting period, the company's long-term assets amounted to 934,620 manat (with a growth of 33.24 percent) and short-term assets hit 2.807 million manat (with a growth of 34.75 percent).
Within the structure of the short-term assets, roughly 802,919 manat fell to deposit accounts and 33,400 to manat accounts. The company's receivable accounts amounted to 932,504 manat, cash and cash equivalents to 1.33 million manat and the proportion of reinsures in insurance reserves to 445, 500 manat.
The company's paid authorized capital amounted to 2 million manat in 2009 compared to 1 million manat early that year. Given the company's net profit for 2009 (531,126 manat) and the losses during previous years (707, 441 manat), the company's total capital hit 2.163 million manat in 2009, compared to 632,418 manat early that year. Capital reserves amounted to 339,724 manat, revaluation reserves to 263.816 manat and other capital reserves to 75,908 manat.
The company's long-term liabilities hit 1.479 million manat, short-term liabilities reached 99,771 manat and capital and liabilities amounted to 3.742 million manat.
The company's revenues hit 3.402 million manat in 2009, including income from insurance premiums at 2.33 million manat, reinsurance payments at 29,625 manat, reinsure shares in insurance payments at 586.898 manat and reinsurance treaty commission payments at 122.853 manat. The company's investment income was 85,254 manat.
During the reporting period, the company's expenditures amounted to 2,871 million manat, including operating costs associated with insurance payments and insurance amounting to 1,134 million manat, premium returns amounting to 33.001 manat, reinsurance premium transfers amounting to 680.626 manat and administrative expenses amounting to 1.001 million manat.
In 2009, OAO Basak-Inam Sıgorta paid 44,491 manat in income tax.
The Turkish Groupama Sigorta AŞ company is a shareholder.