Assets of Azerbaijani Paşa Sığorta increases by third

Azerbaijan, Baku, April 5 /Trend A.Akhundov/

The assets of the Azerbaijani Paşa Sığorta insurance company amounted to 44.19 million manat as of 2011 compared to 33.438 million manat at the beginning of the year, increase by 32.16 percent, according to a company's balance sheet, published in the official press on Thursday.

Financial accounting audited by an insurance company G & A Auditor Firması. Long-term assets amounted to 0.437 million manat at the end of 2011, increasing by 41.53 percent compared to 2010, short-term - 43.75 million manat, with an annual growth of 32.1 percent.

In 2011, 37,34 million manat had been accumulated in cash and cash equivalents, including deposit accounts totalling 36,2 million manat, current accounts - 1,126 million manta.

The paid up share capital of Paşa Sığorta stood at 30 million manat in 2011 compared to 20 million manat in 2010. The company completed 2011 with a net profit of 3,16 million manta and directed it to the increase of authorized capital.

The total capital of the company amounted to 34,43 million manat in 2011, increasing by 51 percent compared to 2010.

Total liabilities of the company amounted to 9,76 million manat, increasing by 8,22 times, capital and liabilities as a whole were 44.19 million manat with growth of 32.16 percent.
The company's revenues amounted to 14,213 million manat and expenses were 11,053 million manat in 2011.

Paşa Sığorta, a member of the Paşa Holding, provides services to corporate and individual clients on 30 types of insurance. Paşa Sığorta is the leader of the national insurance market in terms of capitalization and one of the leading insurers and reinsurers in Azerbaijan.

Official exchange rate on April 5 is 0.7861 AZN/USD

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