Azerbaijan, Baku, 27 March / Trend A.Akhundov /
According to the 2012 results, assets of Azerbaijani insurance and reinsurance broker, Societe de Courtage LLC, amounted to 921,900 manat compared to 544,060 manat at the beginning of last year, an increase of 69.45 per cent, the balance sheet report of the company published in the official press says. The financial statements of Societe de Courtage were audited by Imdad Audit LLC.
According to the report, in 2012 the company accumulated 51,198 manat in cash and cash equivalents, whereas receivables on reinsurance transactions totalled 825,600 manat.
The paid-up share capital of Societe de Courtage stood at 155,780 manat up to 2012, as in 2011. The company completed 2012 with a net profit of 37,210 manat.
The aggregate capital of the company amounted to 150,000 manat at the end of last year, an increase of 8.43 per cent compared with 2011.
The company's revenues last year amounted to 275,340 manat with expenses of 226,520 manat.
Societe de Courtage LLC is a subsidiary of Swiss-based Société de Courtage en Réassurances SA founded in 1982. The Azerbaijani 'daughter' company was registered in 2006 and renewed its licence for brokerage activity in the country in 2011.
The official exchange rate on March 27 is 0.7848 AZN / USD.