BAKU, Azerbaijan, March 29. Azerbaijani Silk Way Insurance company completed 2022 with a net profit of 726,020 manat ($426,586), Trend reports via the report published in the 'Respublika' newspaper.
According to the report, the company's revenues totaled 20.58 million manat, including investment income - 446,840 manat ($262,535), income from subrogation - 8,440 manat ($4,958) and other revenues - 29,870 manat ($17,548).
The company's expenses amounted to 19.6 million manat ($11.5 million), composed of operating costs of 17.7 million manat ($10.4 million), cost of doing business worth 1.72 million manat ($1.01 million), and other expenses - 1,080 manat ($634.5).
The company's profit before taxes reached 907,530 manat ($533,221), whereas income tax payments – 181,500 manat ($106,640).
Thus, the Silk Way Insurance Company completed 2022 with a net profit of 726,020 manat ($426,532).
As of January 1, 2023, the company's total assets equaled 32.2 million manat ($18.9 million), total liabilities accounted for 16.6 million manat ($9.7 million), and total capital - 15.55 million manat ($9.1 million).