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US insurance broker increases assets in Azerbaijan

Business Materials 15 September 2011 20:52

Azerbaijan, Baku, Sept. 15 /Trend, A.Akhundov/

Assets of 'Insurance and Reinsurance Broker Marsh' LLC, which is a representation of the American Marsh Insurance Company in Azerbaijan, in 2010 increased by 11.5 times as compared to 2009, the company stated in its balance sheet published in the official press on Thursday.

According to information, as of the end of 2010, company's total assets amounted to 7.6 million manat.

Long-term assets of the company as of the end of 2010 amounted to 135,000 manat, increasing by 39.18 percent during year, short-term - 7.18 million manat, with the annual growth of 13.22 percent.

The authorized capital of the company as of the end of 2010 totaled 10,000 manat, as in 2009. The company completed 2010 with 301,000 manat profit.

The total capital of the company as of the end of 2010 amounted to 726,000 manat, increasing by 70.82 percent compared with 2009. Total liabilities of the company amounted to 6.89 million manat, increasing by 28.96 percent.

Baku office of Marsh was established in April 2002 and provides insurance and reinsurance services to individuals, local and foreign companies in energy, property, aviation and maritime transport, health and other fields.

Official rate on Sept. 15 is 0.7867 AZN/USD.

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