Baku, Azerbaijan, Feb. 27
By Abbas Akhundov - Trend:
Assets of Azerbaijani insurance company - Ipek Yolu Sigorta JSC increasing by 2.7 percent amounted to 21.64 million manats in late 2013 versus 21.07 million manats earlier in the year, according to the company's balance report.
The company's long-term assets in late 2013 stood at 216,220 manats, while the short-term assets amounted to 21.42 million manats, the company said.
In 2013 the company accumulated 8.79 million manats in cash and cash equivalents, some 2.71 million manats of which are in the settlement account, 5.52 million manats - in deposit accounts, one million manats - in government securities and two million manats - in corporate securities.
In late 2013 the paid-up authorized capital of the Ipek Yolu Sigorta JSC stood at 12.09 million manats - the same as in 2012. The company's total capital in late 2013 amounted to 14.32 million manats.
Last year the company's revenues amounted to 18.63 million manats, while expenses stood at 15.93 million manats. The company completed 2013 with a net profit of 2.16 million manats.
Ipek Yolu Sigorta JSC insurance company, which specializes in air transport insurance, was established in 1995.
The official exchange rate for February 27 is 0.7845 AZN/USD.
Translated by E.A.
Edited by C.N.