Azerbaijani insurance company’s assets up by quarter
Azerbaijan, Baku, April 16 / Trend A. Akhundov /
Azerbaijani insurance company AXA MBASK's assets totaled 22.82 million manat as of 2011 compared to 18.35 million manat as of early 2011. The figure increased by 24.4 percent, the company's balance sheet said today.
The insurance company's financial accounting was audited by Kaspian Konsaltinq company.
The company's long-term assets totaled 6.09 million manat as of late 2011, increasing by a quarter per year, short-term - 16.73 million manat, with an annual growth of 24 percent.
About 11.24 million manat were accumulated in cash and cash equivalents in 2011, including deposit accounts - 8.8 million manat, the current account - 2.236 million manat.
AXA MBASK's paid authorized capital hit 6.73 million manat as of 2011 compared to 5.73 million manat in 2010.
The company completed 2011 with net profit of 47,760 manat.
The company's total capital amounted to 8.116 million manat as of late 2011 9.8 percent less compared to 2010.
The company's total liabilities amounted to 14.7 million manat, increasing by 57.22 percent, equity and liabilities as a whole - 22.82 million manat with a growth of 24.4 percent.
The company's revenues amounted to 11.883 million manat, expenses - 11.835 million manat as of 2011.
The AXA Group (France) acquired the controlling parcel of shares (51 percent) through its affiliated company AXA Sequros Generales, S.A, De Sequros Y Reasequros (Spain).
The AXA Group is the world's leader in financial protection and operates in 57 countries with the largest concentration of its business in Europe, North America and the Asia/Pacific Region.
The official exchange rate is 0,786 AZN/USD.