Azerbaijan, Baku, 17 April / Trend, A. Akhundov /
Assets of Azerbaijani insurance and reinsurance companies amounted to 600.79 million manat in 2012, a report of the State Insurance Supervision Service under the Ministry of Finance of Azerbaijan published on its website on Wednesday says.
There are 28 insurance companies and one reinsurance company operating in Azerbaijan.
According to the last year's results, investments in real estate companies stood at 34.23 million manat, long-term financial assets - 48.14 million manat, reinsurers' share in insurance reserves - 58.23 million manat, and 380.49 million manat was accumulated in cash and cash equivalents. Receivables of the companies amounted to 61.15 million manat over the course of the year.
The total capital of the insurance market amounted to 343.44 million manat last year, including 294.06 million manat of the paid-up share capital of the market and 49.39 million manat of other capital reserves.
Total liabilities of the companies exceeded 257 million manat, of which liability insurance provisions amounted to 229.78 million manat, accounts receivable - 7.25 million manat, reinsurance obligations on operations - 13.71 million manat and other liabilities - 6.6 million manat.
The official exchange rate on April 17 is 0.7847 AZN / USD.