BAKU, Azerbaijan, April 4. The net loss of Azerbaijan’s Gunay Sigorta insurance company amounted to over 1.12 million manat ($660,000) in 2021, Trend reports via the company’s balance sheet published in “Xalq qazeti” (Xalq newspaper).
According to the data confirmed by the audit report, the company's revenues last year exceeded 10.3 million manat ($6.06 million), and paid insurance premiums – 9.7 million manat ($5.7 million).
Meanwhile, spending of the company stood at 11.5 million manat ($6.7 million), returned fees – 837,171 manat ($492,450), regulation expenses – 3,860 manat ($2,270) and premiums transferred for reinsurance – 450,943 manat ($265,260).
Besides, deductions to the preventive measures fund amounted to 64,221 manat ($37,780), business expenses –5.8 million manat ($3.4 million), and other expenses for insurance activity – 1,946 manat ($1,140).
The company's net loss before taxes also made up over 1.12 million manat.
The company's assets increased by 9.27 percent - up to 16.3 million manat ($9.6 million), liabilities - by 10.53 percent - to 7.4 million manat ($4.3 million), and capital - by 8.23 percent - to 8.8 million manat ($5.1 million) in 2021 compared to 2020.