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Azerbaijan’s Silk Way Insurance OJSC completes 2021 with net profit

Finance Materials 30 March 2022 15:06 (UTC +04:00)
Azerbaijan’s Silk Way Insurance OJSC completes 2021 with net profit
Nazrin Israfilova
Nazrin Israfilova
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BAKU, Azerbaijan, March 30. Azerbaijan's Silk Way Insurance OJSC completed 2021 with a net profit of 972,000 manat ($571,700), Trend reports citing the company's financial report.

Silk Way Insurance OJSC completed 2020 with a net profit of 1.95 million manat ($1.14 million).

The company's net profit in 2021 was halved compared to 2020.

The total operating income of Silk Way Insurance OJSC amounted to 20.6 million manat ($12.1 million) and operating expenses - 18.85 million manat ($11.05 million) in 2021, financial report noted.

The company's total operating income amounted to 22.5 million manat ($13.2 million) and operating expenses - of 19.6 million manat ($11.5 million) in 2020.

Insurance premiums of Silk Way Insurance OJSC amounted to 15.6 million manat ($9.2 million), insurance payments - 2.7 million manat ($1.5 million), reinsurance expenses - 13.1 million manat ($7.7 million) in 2021.

Insurance premiums of Silk Way Insurance OJSC amounted to 17.3 million manat ($10.1 million), insurance payments - 2.6 million manat ($1.5 million), reinsurance expenses - 14.5 million manat ($8.5 million) in 2020.

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