Baku, Azerbaijan, Sept. 5
By Kamala Mammadli - Trend:
Assets of the Azerbaijani insurance company Baku Insurance for the first half of 2019 amounted to 10.731 million manats, increasing by 1.7 percent from the beginning of the year, Trend reports referring to the financial report of the company.
The main part of assets (64.3 percent, or 6.903 million manats) of Baku Insurance for the reporting period amounted to short-term assets, which increased by 3.6 percent compared to the beginning of the year. Long-term assets amounted to 3.828 million manats, having decreased by 1.62 percent.
During the reporting period, in the structure of short-term assets of the insurance company, 78.4 percent (5.411 million manats) accounted for cash and cash equivalents, while 10.8 percent (745,934 manats) accounted for accounts receivable.
The share of reinsurance in insurance reserves amounted to 56,496 manats with a decrease of 47.5 percent.
Some 52.2 percent or two million manats of Baku Insurance’s long-term assets accounted for financial assets, 40 percent or 1.530 million manats - for land, buildings and equipment.
During the reporting period, the charter capital of the company remained unchanged and amounted to 8.925 million manats. The total capital of Baku Insurance slightly increased by 0.24 percent to 9.3 million manats.
The total liabilities for the reporting period increased by 12.13 percent, amounting to 1.431 million manats. Most part of the liabilities accounted for long-term liabilities in the amount of 1.153 million manats, having increased by 15.7 percent. Short-term liabilities of the company for the first half of the year amounted to 277,236 manats.
($1= 1.7 manats on Sept. 5)