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Azerbaijani insurance company doubles capital

Business Materials 4 April 2009 14:29 (UTC +04:00)

Azerbaijan, Baku, Apr. 4 / Trend , U.Ismayilova/

The Assets of Azerbaijan's insurance company Pasa Sigorta hit 13.803 million manat as a result of 2008, a 2.6-fold rise from 2007, according to company's balance report published in official press.

Pasa Sigorta long-term assets hit 272,400 million manat as a result of 2008, an 11.9-fold rise from 2007, and short-term assets - 13.53 million manat (a 2.7-fold rise). Pasa Sigorta deposit accounts hit 9.5 million manat.

Paid authorized capital of the company hit 9 million manat in 2008 (a 2.25-fold rise), net profit -683,700 manat, unpaid losses of previous years- 133,200 manat.

Pasa Sigorta long-term liabilities hit 3.98 million, a 3.4-fold rise, short-term liabilities - 274,980 manat compared to 99,900 manat at the beginning of 2008, capital and liabilities as a whole hit 13.803 million manat, a 2.6-fold rise.

Qarant Sigorta's revenues hit 7.56 million and expenses - 6.68 million manat over 2008.

Last year the company paid off 3,200 manat of profit tax, 67,690 manat of income tax, 1,480 manat of property tax, 16,250 manat of tax at source, and 84,180 manat of other taxes.

On Apr. 4, the official exchange rate is 0.8028 manat to $1.

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