BAKU, Azerbaijan, January 24. Azerbaijan's Silk Way Insurance Company completed 2022 with a net profit of 913,190 manat ($537,170), Trend reports citing the company's financial report.
According to the report, the revenues of Silk Way Insurance totaled 20.65 million manat ($12.15 million), including investment income – 469,180 manat ($275,990), subrogation revenues - 9,210 manat ($5,417), and other revenues - 25,860 manat ($15,211).
The company's expenses amounted to 19.5 million manat ($11.4 million), composed of operating costs worth 17.7 million manat ($10.41 million), and business expenses worth 1.7 million manat ($1 million).
The company's profit before taxes reached 1.14 manat ($670,588), whereas income tax payments – 228,290 manat ($134,288).
Thus, the Silk Way Insurance Company completed 2022 with a net profit of 913,190 manat ($537,170).