Baku, Azerbaijan, Sept. 5
By Kamala Mammadli – Trend:
The net profit of the Azerbaijani insurance company AtaInsurance amounted to 1.113 million manats for the first half of 2019, Trend reports referring to the company's financial report.
According to the company’s report, the company completed the same period of 2018 with a net loss of $2.350 million manats.
Over the reporting period, the insurance company's income increased by 62.73 percent to 14.027 million manats. Revenues were generated mainly through insurance fees in the amount of almost 9.365 million manats (decrease of 9.74 percent).
Funds allocated from net insurance reserves amounted to 3.448 million manats, and investment income to 1.102 million manats (decrease of 13.9 percent).
During the reporting period, the company’s insurance expenses increased by 17.7 percent and amounted to 12.914 million manats. Operating expenses amounted to 8.092 million manats, among which insurance payments amounted to 7.152 million manats. The cost of reinsurance payments amounted to 745,596 manats.
The cost of conducting insurance business operations for the first half of the year amounted to 4.807 million manats (decrease of 27 percent).
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