BAKU, Azerbaijan, Jan. 9
By Eldar Janashvili – Trend:
The volume of total assets of Azerbaijan’s Compulsory Insurance Bureau increased by 1.1 percent in the balance sheet for 2018, compared with the previous year, amounting to $36.4 million, Trend reports referring to the audited report of bureau.
"The share of investment securities almost doubled, amounting to 10.7 million manat ($6.2 million), which is 30 percent of total assets. About 28 percent were term deposits in the amount of 10.25 million manat ($6 million), which increased by almost 31 percent on an annualized basis. The volume of assets and its equivalents dropped fourfold, amounting to 755,100 manat ($441,764),” a source in the bureau said.
“Deferred tax assets of the bureau amounted to 1.45 million manat ($0.8 million). Accounts receivable increased by 15.6 percent and amounted to 921,300 manat ($541,941). Intangible assets decreased by 26.3 percent, amounting to 2.07 million manat ($1.2 million). Other assets amounted to 10.05 million manat ($5.9), or 27.5 percent of all assets,” the source said.
“The total volume of obligations increased by 45.8 percent and amounted to 11 million manat ($6.4 million) on an annualized basis. Herein, 54.4 percent of obligations accounted for collateral deposits in the amount of 6 million manat ($3.5 million). The bureau’s reserves increased by 3.7 times and amounted to 4.97 million manat ($2.9 million). Other obligations amounted to 55,600 manat ($32,705),” the bureau said.
(1 USD = 1.7 manat on Jan. 9)
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