Baku, Azerbaijan, Sep. 10
By Azad Hasanli - Trend:
In 2018, Azerbaijani company AtaInsurance significantly increased investments in securities, the company's financial report for 1H2018 reads.
Since the beginning of 2018, the company has invested 3.3 million manats in long-term securities and 1.37 million manats in short-term securities. At the end of 2017, the company did not have investments in government securities, but investments of 1.15 million manats were made in long-term corporate securities.
In general, the assets of the company in 1H2018 decreased by 0.84 percent to 29.45 million manats, compared to the beginning of 2018. The company increased its long-term assets by 2.3 times up to six million manats. Short-term assets, on the contrary, slightly decreased from 27.1 million to 23.4 million manats.
The accounts receivable of AtaInsurance decreased by 23.77 percent, amounting to almost 2.7 million manats, including insurance - 1.05 million manats (an increase of 19.5 percent) and reinsurance 22,290 manats (an increase of 35,9 percent).
The amount of cash that the company has, also decreased by 21.4 percent to 18.7 million manats.
According to the results of the reported period, the liabilities of the company amounted to 15.45 million manats, having increased by 17.22 percent since the beginning of 2018.
AtaInsurance completed 1H2018 with a loss of 2.35 million manats. The company's revenues amounted to 8.6 million manats, including 10.3 million manats of insurance fees, expenses - 10.97 million manats, payments - 3.96 million manats.
AtaInsurance has been operating since 2004 and is part of AtaHolding LLC. The authorized capital of the company is 12.4 million manats.
($1 = 1.7 AZN on Sept. 10)
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