Azerbaijan, Baku, April 1 / Trend A. Akhundov /
Assets of the Azerbaijani AXA MBASK OJSC insurance company on the results of 2012 constituted 25.78 million manat compared to 22.82 million manat at the beginning of the year. This is an increase of almost 13 per cent, according to the balance sheet of the company published in the official media on Monday.
The financial statement of AXA MBASK was audited by MAK Azərbaycan Ltd.
According to the balance sheet, the long term assets of the company at the end of 2012 amounted to 6.45 million manat, and the short term ones - 19.33 million manat.
In 2012, the company accumulated 11.06 million AZN in cash and cash equivalents including 8.65 million AZN in deposit accounts, 2.35 million AZN in the payment accounts and 3.86 million AZN in public securities.
The paid up authorised capital of AXA MBASK became 8.73 million manat compared to 6.73 million in 2011.
The aggregate capital of the company at the end of the last year was 10.33 million AZN having increased in comparison with 2011 by 27.2 per cent.
The aggregate liabilities of the company exceeded 15.45 million manat and capital and liabilities in total constituted 25.78 million manat compared to 22.82 million manat, increasing almost by 13 per cent.
The company's revenues on the results of last year amounted to 17.23 million manat with expenditures at 17.1 million manat.
The company finished 2012 with a net profit of 108.93 AZN.
In October 2010 the principal shareholder of MBASK was changed. The control packet (51 per cent) was purchased by AXA Group (France) via its affiliated company AXA Sequros Generales, S.A, De Sequros Y Reasequros (Spain). The licence for MBASK was renewed for AXA MBASK in connection with changing the company's name on December 7, 2010.
Official currency rate for April 1 is 0.7846 AZN/USD.