Assets of Azerbaijani Atəşgah insurance company increase by over half
Azerbaijan, Baku, April 1 / Trend A.Akhundov /
Assets of Azerbaijani Insurance Company "Atəşgah" based on performance in 2012 amounted to 31.46 million manat compared to 20.16 million manat at the beginning of the year. This an increase of 56.05 percent, according to the balance sheet of the company published in the official press.
The financial statements of Atəşgah OJSC were audited by LBAudit Xidməti LLC.
Long-term assets of the company at the end of 2012 amounted to nearly six million manat, short-term assets - 25.56 million manat.
In 2012, the company accumulated 14.63 million manat in cash and cash equivalents, including deposit accounts of 13.3 million manat and 1.27 million manat on current accounts.
The paid-up share capital of Atəşgah by the end of 2012 stood at five million manat compared to 3.7 million in 2011.
The company's aggregate capital by the end of last year amounted to 7.61 million manat, or 47 percent more than in 2011.
The aggregate liabilities of the company amounted to 23.85 million manat, and capital and liabilities as a whole - 31.46 million manat, or 56.05 percent more compared to 20.16 million at the beginning of the year.
The company's revenues last year amounted to 32.47 million manat, expenses - 31.03 million manat. The company completed 2012 with a net profit of 200,000 manat.
Atəşgah Sığorta Insurance Company was established in late 1996. The Atəşgah insurance group includes the Atəşgah Insurance Company and Atəşgah Həyat OJSC.
The official exchange rate on 1 April is 0.7846 AZN / USD.