Assets of Azerbaijani Meqa Sığorta more than doubled
Azerbaijan, Baku, April 16 /Trend A.Akhundov/
Assets of Azerbaijani insurance company Meqa Sığorta amounted to 8.52 million manat in 2011 compared to 3.98 million manat at the beginning of last year, increasing by 2.14 times, according to a company's balance sheet, published in the official press on Monday.
Financial statements of the company are audited by company "Kaspi-Audit".
Long-term assets totaled 1.39 million manat at the end of 2011, increasing by almost 36 times during the year, short-term - 8.33 million manat, with an annual growth of 2.32 times.
Some 7.687 billion manat have been accumulated in cash and cash equivalents in 2011, including deposit accounts - 6.34 million manat, the current account - 1.34 million manat.
Paid up share capital of Meqa Sığorta on the basis of 2011 stood at 7 million manat compared to 3.5 million manat at the end of 2010.
The company completed 2011 with net profit of 3.27 manat.
The total capital of the company at the end of last year amounted to 7.04 million manat, increasing by 43 percent compared to 2010.
Total liabilities of the company amounted to 1.48 million manat, increasing by 5.76 times, equity and liabilities as a whole - 8.52 million manat with growth by 2.14 times.
The company's revenues amounted to 1.192 million manat, expenses - 1.188 million manat in 2011.
Meqa Sığorta insurance company began to operate under a new brand from October 1, 2010 and is licensed to provide 29 kinds of insurance services, including four compulsory.
Official exchange rate on April 16 is 0.786 AZN/USD