Azerbaijan, Baku, April 1 / Trend A. Akhundov /
The assets of Azerbaijani Insurance Company İPEK YOLU SIGORTA amounted to 21.07 million manat decreasing by nearly a third in 2012 compared to 31.36 million manat as of early 2013, the company's balance sheet, published in the official press, said today. The company's financial statements were audited by free auditor Uzeyir Fatiyev.
According to the report, the company's long term assets in late 2012 amounted to 118,100 manat with short term at 20.95 million manat.
The company accumulated 9.27 million manat, of which 3.29 million manat is in the current account, 5.65 million manat on deposit, one million manat in state securities and 2.5 million manat in private securities in cash and cash equivalents in 2012.
As of 2012, the company's paid-up share capital stood at 12.09 million manat compared to 10.78 million manat in 2011.
The aggregate capital at the end of last year amounted to 15.51 million manat increasing by 18 per cent compared to 2011.
Aggregate liabilities exceeded 5.56 million manat and equity and liabilities as a whole amounted to 21.07 million manat decreasing by nearly a third compared to 31.36 million manat at the beginning of the year.
Last year, the company's revenues amounted to 14.31 million manat with expenses at 10.73 million manat. It ended 2012 with a net profit of 2.86 million manat.
The İPEK YOLU SIGORTA Insurance Company, specialising in air transport insurance, was established in 1995.
The official exchange rate is 0, 7846 AZN/USD on April 1.