Baku, Azerbaijan, Apr. 4
By Anvar Mammadov – Trend:
Assets of Azerbaijan’s AzRe Reinsurance OJSC increased by almost 5 percent and amounted to 103.58 million manats in 2016, according to the company’s report posted on its website.
The company’s assets totaled 98.69 million manats in 2015.
A major part of the assets – 70.9 percent or 73.43 million manats – accounted for short-term assets, while 29.1 percent or 30.15 million manats were long-term assets.
The report says that 75.6 percent or 22.79 million manats of the company’s long-term assets accounted for non-state securities.
Liabilities of AzRe Reinsurance decreased by 3.6 percent during the year and amounted to 28.13 million manats. This figure was 29.18 million manats in 2015.
Net profit of the company totaled 15.5 million manats during the period. Revenues of AzRe Reinsurance amounted to 67.42 million manats, 53.69 million manats of which accounted for reinsurance premiums.
The company’s expenditures exceeded 47 million manats in 2016.
AzRe Reinsurance began to operate in 2007. The company’s total capital is 69.51 million manats.