Baku, Azerbaijan, Mar. 31
By Anvar Mammadov – Trend:
Azerbaijan’s insurance company AXA MBASK completed 2016 with a profit of 403,710 Azerbaijani manats that is by 66.8 percent more than in 2015, according to the company’s balance sheet.
The report says that the company’s revenues amounted to 25.76 million manats in 2016 and 21.09 million manats accounted for insurance premiums. Expenditures of AXA MBASK exceeded 25.25 million manats in 2016, 9.78 million manats of which accounted for payment of claims.
Assets of the company increased by 8.4 percent as compared to late 2015 and totaled 38.29 million manats in 2016. A major part of assets (76.8 percent or 29.39 million manats accounted for short-term assets. Meanwhile, 23.2 percent of total assets (8.9 million manats) accounted for long-term assets.
The authorized capital of AXA MBASK remained unchanged in 2016 and stood at 19.73 million manats. The aggregate capital of the company increased by 3.6 percent and amounted to 19.98 million manats.