Assets of American Insurance Company’s subsidiary in Azerbaijan increased by half
Azerbaijan, Baku, April 20 /Trend A.Akhundov/
Assets of American insurance company's subsidiary in Azerbaijan, - Chartis Azerbaijan amounted to 8.79 million manat by the end of last year, increasing by 49.74 percent according to the company's balance sheet.
Financial accountability audited by an insurance company PricewaterhouseCoopers.
Some 3.77 million manat has been accumulated on time deposit account and 3.045 million manat was invested in securities in 2011.
Paid authorized capital of Chartis Azerbaijan stood at 6.79 million manat in 2011 compared to 3.5 million manats by the end of 2010.
The company completed 2011 with net profit of 48.62 thousand manat.
The total capital of the company at the end of last year amounted to 6.45 million manat, increasing by 2.06 times compared to 2010.
Total liabilities of the company amounted to 2.3 million manat, decreasing by 14.81 percent, equity and liabilities as a whole - 8.79 million manat with growth by 49.74 percent.
Chartis (AIG Insurance) is a major international organization in the field of property and personal insurance (insurance other than life insurance), serving more than 40 million customers in more than 160 countries and jurisdictions. Chartis helps both corporate clients and individuals confidently manage any risks, having a 90-year history, one of the widest spectrum of products and services, deep knowledge of the process of settlement of losses and high financial strength.
Official exchange rate on April 20 is 0.7860 AZN/USD