Baku, Azerbaijan, Sept. 6
By Kamala Mammadli – Trend:
The Azerbaijani Mega Insurance company increased the total assets by 16.22 percent up to 49.381 million manats in January-June 2019, Trend reports referring to the company's financial report.
According to the report, long-term assets in the structure of assets decreased by 4.9 percent and reached 13.458 million manats in January-June 2019, of which the biggest share accounted for the financial assets worth 12.956 million manats. The assets in the form of real estate and equipment increased by 7.7 percent up to 303,362 manats.
The volume of short-term assets increased by 26.6 percent and reached 35.922 million manats in January-June 2019. Among short-term assets, receivables increased by 32 percent and reached 12.035 million manats.
The volume of cash and cash equivalents increased by 36.4 percent to 14.588 million manats. The balances on deposit accounts decreased by 8,692 manats up to 9.3 million manats.
The volume of reinsurers in insurance reserves increased by 17.2 percent and reached 9.005 million manats.
During the reporting period, the company’s authorized capital remained unchanged and amounted to 14.5 million manats. The total capital increased by 9.3 percent up to 26.064 million manats.
According to the report, total liabilities increased by 25 percent and reached 23.316 million manats during the reporting period. Most of the liabilities accounted for long-term liabilities in the amount of 22.821 million manats increasing by 25.3 percent. The company’s short-term liabilities amounted to 494,935 manats during the reporting period.
The Mega Insurance company launched its activity on October 1, 2010. The insurance company received a perpetual license in 2012 to carry out insurance activity in Azerbaijan.
(1 USD = 1.7 AZN on Sept. 6)
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