Baku, Azerbaijan, Sept. 2
By Kamala Mammadli - Trend:
In 2018, the assets of Azerbaijan’s insurance company Pasha Insurance amounted to 174.277 million manats, which is 14.23 percent more than in the same period of the previous year, Trend informs referring to the insurance company’s financial report.
Most of the assets (75 percent, or 131.277 million manats) of Pasha Insurance last year accounted for short-term assets, which increased by 5.47 percent over the year. Long-term assets amounted to 43.547 million manats, which is a 1.5 times growth over the year.
During this period, in the structure of short-term assets of the insurance company, 31.8 percent (41.767 million manats) accounted for cash and cash equivalents, 28.2 percent (37.041 million manats) for short-term financial assets, 20.7 percent (27.171 million manats) for accounts receivable. The share of reinsurance in insurance reserves amounted to 19.2 percent (25.265 million manats) with an increase of 14.06 percent over the year.
About 94 percent, or 40.949 million manats of long-term assets of the company, accounted for financial assets; 4.6 percent, or 2.008 million manats for land, buildings and equipment. The share of intangible assets amounted to 1.35 percent (589,577 manats).
In the reporting period, the charter capital of the company remained unchanged and amounted to 50 million manats The total capital of Pasha Insurance increased by 13.37 percent, to 74.997 million manats.
The company’s total liabilities for the past year increased by 14.9 percent, amounting to 99.827 million manats. Most of the liabilities accounted for long-term liabilities in the amount of 90.194 million manats. Short-term liabilities of the company last year amounted to 9.362 million manats.
(1 USD = 1.7 manats on Sept. 2)
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