Baku, Azerbaijan, Aug. 29
By Kamala Mammadli – Trend:
The assets of the Azerbaijani insurance company AzSigorta reached 60.730 million manats in 2018, which is 0.45 percent less than in 2017, Trend reports referring to the company’s balance sheet.
According to the report, 89 percent of the company's assets accounted for short-term assets, which increased by 1.23 percent for the year and amounted to 54.237 million manats.
The main share in the structure of short-term assets accounted for cash and cash equivalents, the volume of which, having increased by 13.7 percent for the reporting period, amounted to 20.524 million manats.
Accounts receivable amounted to 6.301 million manats, short-term financial assets - 17.098 million manats, the share of reinsurers in insurance reserves - 7.391 million manats, other short-term assets - 399,000 manats, other assets - 2.522 million manats.
The company’s long-term assets for the reporting period amounted to 9.462 million manats in 2018, which is 12.7 percent less than in 2017. Most of the long-term assets accounted for long-term financial assets worth 4.536 million manats. Some 875,698 manats accounted for land plots, buildings and equipment, 680,755 manats - intangible assets, 400,000 manats - other assets.
The company’s liabilities amounted to 26.329 million manats in 2018, which is 15.4 percent less than in 2017. Most of the liabilities accounted for long-term liabilities, the volume of which amounted to 25.709 million manats. The company’s short-term obligations for 2018 amounted to 620,355 manats.
The company’s total capital amounted to 34.4 million manats in 2018, increasing by 15 percent compared to 2017, mainly through covering the loss worth 3.064 million manats and retained earnings of 4.406 million manats.
(1 USD = 1.7 AZN on Aug. 29)
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