Azerbaijani insurance company’s assets increased
Azerbaijan, Baku, April 16 / Trend, A.Akhundov /
Assets of Azerbaijani insurance company Alfa Sıgorta amounted to 8 million manat in 2011 compared to 5.573 million manat as of early 2011, increasing by 43.55 percent, the company's balance sheet, published by official press on Monday says.
The insurance company's financial statement is audited by Kaspian Konsaltinq.
The company's long-term assets as of early 2011 totaled 1.387 million manat, decreasing by 21.86 per cent, while short-term assets- 6.616 million manat, with an annual growth of 74.1 percent.
In 2011, 5.6 million manat were saved up in cash money and their equivalents, including deposit accounts - 2.97 million manat, settlement account - 2.4 million manat.
Paid up share capital of Alfa Sıgorta in 2011 hit 4.75 million manat compared to 3.1 million manat in 2010. The company finished 2011 with net profit of 3,390 manat.
The company finished 2011 with net profit of 3,390 manat.
The total capital of the company in late 2011 amounted to 6 million manat, increasing by 53.57 percent compared to 2010.
Total liabilities of the company amounted to 1.98 million manat, increasing by 15.15 per cent, capital and liabilities in general - 8 million manat with a 43.55 -percent increase.
The company's revenues last year amounted to 3.18 million manat, while expenses - 2.08 million manat.
The founder of Alfa Sığorta is the local OJSC Texnikabank, which bought 100 percent of company's shares in December 2006. Alfa Sığorta is licensed to provide 30 kinds of insurance services, including the six compulsory and 24 voluntary types of insurance.
The official exchange rate is 0.786 AZN / USD on April 16.