Baku, Azerbaijan, Sept. 18
By Kamala Mammadli – Trend:
The net profit of the Azerbaijani Amrah Insurance company amounted to 141,000 manats in January-June 2019, Trend reports referring to the company's financial report.
The company’s net loss amounted to 139,000 manats for the same period of last year.
The company’s income for the reporting period increased by 3.5 times and reached almost 495,000 manats. The revenues were obtained mainly through insurance fees in the amount of 290,000 manats, which is almost two times more than last year.
In the structure of income, net insurance reserves decreased by 4,500 manats. Investment income amounted to 738,952 manats.
The expenses amounted to 353,500 manats, which is 25.7 percent more than in the same period of last year. Operating expenses increased by almost five times and amounted to 146,000 manat, including insurance payments worth 101,500 manats. The expenditure of reinsurance payments amounted to 5.609 million manats.
The costs associated with conducting business for the reporting period amounted to 207,000 manats.
As a result, net profit amounted to 141,000 manats.
(1 USD = 1.7 AZN on Sept. 18)
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