BAKU, Azerbaijan, March 28. “Azerbaijan Industry Insurance” OJSC completed 2022 with a net loss of 2.47 million manat or $1.45 million (before tax payment), Trend reports citing ‘Respublika’ newspaper.
According to the company’s report, its total income amounted to 10.05 million manat ($5.91 million), including investment incomes of 940,100 manat ($553,000), income from subrogation – 135,850 manat ($79,910), and other incomes – 194,050 manat ($114,150).
The company's expenses totaled 12.5 million manat ($7.3 million), including expenses for conducting activities - 4.9 million manat ($2.8 million), and other expenses – 8,580 manat ($5,050).
As of January 1, 2023, total assets of the company equaled 42.52 million manat ($25 million), total liabilities – 33.98 million manat ($19.9 million), and total capital – 8.5 million manat ($5 million).
The OJSC was established by changing the organizational and legal form of “CI Insurance” LLC founded on December 17, 1996, under the Ministry of Justice of the Republic of Azerbaijan and is legal heir.