Assets of Azerbaijani insurance company slightly decrease
Baku, Azerbaijan, Sept. 3
By Kamala Mammadli - Trend:
As of Jan. 1, 2019, the assets of Azerbaijan’s insurance company Ateshgah totaled 42.117 million manats, decreasing by 865,930 manats compared to the same period last year, Trend reports referring to the financial report of company.
Ateshgah’s main assets (70.7 percent, or 29.784 million manats) for the reporting period accounted for short-term assets, which decreased by 2.14 percent compared to the previous year. Long-term assets amounted to 12.333 million manats, having decreased by 1.85 percent.
During the reporting period, in the structure of short-term assets of the insurance company, 59.8 percent (16.164 million manats) accounted for cash and cash equivalents, 19.6 percent (5.85 million manats) – for accounts receivable, 2.15 percent (642,600 manats) – for short-term financial assets. The share of reinsurance in insurance reserves amounted to 16.89 percent (5.032 million manats) with a decrease of 11.9 percent.
As much as 90 percent, or 11.146 million manats of Ateshgah’s long-term assets accounted for land, buildings and equipment, 3.81 percent (471,000 manats) - for financial assets. The share of intangible assets amounted to 4.3 percent (530,513 manats).
In the reporting period, the charter capital of the company remained unchanged and amounted to 5.008 million manats. Ateshgah’s total capital decreased by 8.6 percent to 11.951 million manats.
Total liabilities for the reporting period increased slightly by 0.54 percent, amounting to 30.166 million manats. Most of the liabilities accounted for long-term liabilities worth 26.826 million manats. Short-term liabilities of the company last year amounted to 3.339 million manats.
Follow the author on Twitter: @kamala_mammadli