Baku, Azerbaijan, Mar.16
By Azad Hasanli - Trend:
Net profit of A-Group insurance company amounted to 1.85 million manats on the results of 2014, which is 2.6 percent less than in 2013, said the financial report of the insurance company on the results of the last year, published in the official press.
The company's revenues for last year amounted to 13.5 million manats, 12.55 million manats of which fell on insurance fees, according to the report. The costs of insurance company in 2014 exceeded 11.2 million manats, insurance payments amounted to 7.4 million manats.
The assets of the insurance company increased by 9.6 percent and amounted to 20.5 million manats during the reporting period.
The bulk of assets (96.1 percent, or 19.7 million manats) for the period accounted for short-term assets, while 766,950 manats accounted for long-term assets.
Last year, in the structure of short-term assets of the insurance company, some 54.8 percent (11.24 million manats) fell on deposit accounts, 20.98 percent (4.3 million manats) - receivables, 8.2 percent (1.68 million manats) - the share of reinsurers in insurance reserves.
The vast majority (98.1 percent, or 752,100 manats) of long-term assets of the insurance company amounted to land, buildings and equipment. The remainder (14,880 manats) fell on intangible assets.
In 2014, the company's insurance reserves amounted to 9.9 million manats, which is 4.2 percent more than in 2013 (9.5 million manats).
A-Group insurance company was founded in 1995. The insurance company provides health insurance, accident insurance, insurance of property, insurance of vehicles, travel insurance, liability insurance and other kinds of insurance.
Edited by CN
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