Azerbaijan, Baku, 29 March / Trend, A. Akhundov /
Assets of the Azerbaijani Insurance Company "Paşa Həyat Sığorta" based on performance in 2012 amounted to 30.543 million manat compared to 15.1 million manat at the beginning of the year. This an increase of 2.02 times, according to the balance sheet of the company published on Friday in the official press.
The company's financial statements were audited by Kaspian Konsaltinq.
Long-term assets of the company by the end of 2012 amounted to 331.34 million manat, increasing by 60.3 percent, short-term assets - 30.212 million manat with annual growth of 2.03 times.
According to the report, in 2012, the company accumulated 27.68 million manat in cash and cash equivalents, including deposit accounts of 24.29 million manat, current accounts - 3.372 million manat.
The paid-up share capital of Paşa Həyat Sığorta stood at 15.05 million manat up to 2012 versus 12.4 million manat in 2011. The company completed 2012 with a net profit of 3.585 million manat.
The company's aggregate capital by the end of last year amounted to 18.57 million manat, increasing twice in comparison to 2011.
The aggregate liabilities of the company amounted to 12 million manat, increasing by nearly 2.11 times, and capital and liabilities as a whole - 30.543 million manat with a 2.02-fold increase.
The company's revenues last year amounted to 7.46 million manat, expenses - 2.92 million manat.
Paşa Həyat Sığorta is the most capitalized amongst the life insurance companies operating in the country (Atəşgah Həyat and Qala Həyat). The sole shareholder of the new company is Paşa Holding.
The official exchange rate on March 29 is 0.7848 AZN / USD.