Baku, Azerbaijan, Sept. 4
By Kamala Mammadli - Trend:
As of January 1, 2019, the assets of the Azerbaijani insurance company Ateshgah Life amounted to 89.427 million manats, having increased by 60.3 percent over the year, Trend reports referring to the company’s financial report.
The bulk of the assets (94 percent, or 84.088 million manats) of Ateshgah Life for the reporting period were comprised of short-term assets, which increased by 67.1 percent compared to the previous year. Long-term assets amounted to 5.338 million manats, having decreased by 2.23 percent.
In the structure of short-term assets for the indicated period, 83.3 percent (70.052 million manats) accounted for cash and cash equivalents, 11.4 percent (9.576 million manats) for short-term financial assets, and 3.96 percent (3.329 million manats) for receivables.
According to the report, about 90 percent, or 4.798 million manats, of Ateshgah Life's long-term assets accounted for land, buildings and equipment. The share of intangible assets amounted to 7.23 percent (386,445 manats).
Moreover, the company’s charter capital remained unchanged and made up 6.5 million manats. Ateshgah Life's total capital increased by 23 percent to 18.859 million manats.
Total liabilities increased by 74.4 percent and amounted to 70.567 million manats. Most of the liabilities were long-term liabilities in the amount of 69.147 million manats which increased by almost two times. The company’s short-term liabilities for last year amounted to 1.419 million manats.
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