Baku, Azerbaijan, May 15
By Kheyraddin Nasirzade – Trend:
Azerbaijan’s AtaInsurance OJSC insurance company collected insurance premiums totaling 5,400,000 manats for the first quarter of 2019, which is 26.9 percent more than the same period last year, Trend reports referring to the company.
Insurance fees increased by 1,100,000 manats, compared to the first quarter of last year.
In January-March of this year, insurance payments amounted to about 3,500,000 manats, ensuring growth of 1,600,000 manats, or 89.8 percent.
During the reporting period, the company's profit amounted to 160,000 manats.
The total assets of the company in late 2018 amounted to 28,417,000 manats, 12,215,000 manats of which made up the long-term assets. In the structure of long-term assets, fixed assets in the form of land, buildings and equipment make up slightly more than 700,000 manats.
Intangible assets amount to 440,700 manats. Long-term financial assets amount to 10,664,000 manats. Deferred tax assets amount to slightly more than 10,000 manats, and other long-term assets amounted to 400,000 manats.
The company's short-term assets amounted to 16,201,000 manats. In the structure of short-term assets, the volume of reserves amounted to 1,767 manats. Accounts receivables amounted to 2,166,000 manats. Cash and cash equivalents amounted to 13,478,000 manats. The share of reinsurers in insurance reserves amounted to over 555,000 manats.
As of December 31 of last year, the total liabilities of the insurance company amounted to 19,310,000 manats, 19,296,000 manats of which made up long-term liabilities. The structure of long-term liabilities insurance reserves amounted to 17,860,000 manats. Accounts payable amounted to about 703,300 manats, and other long-term liabilities amounted to over 699,000 manats. Obligations for reinsurance operations amounted to 32,900 manats.
The company's short-term liabilities amounted to 14,367 manats, 12,800 manats of which made up accounts payables and 1,567 manats made up other liabilities.
The authorized capital of Ata Insurance OJSC at the end of last year amounted to 14.6 million manats. Additional capital amounted to 3,653 manats. As a result of undistributed loss of 5,496,000 manats, the total capital of the company amounted to 9,106,000 manats.