BAKU, Azerbaijan, Apr.16
By Zeyni Jafarov - Trend:
Azerbaijan’s Qala Sigorta insurance company had successfully continued its upward trend despite the developments amid the coronavirus pandemic in the country, a source in the company told Trend.
According to the source, the company ended 2020 with a net profit of over 2 million manat ($1.17 million), which is about 60 percent more compared to 2019.
At the same time, the company's revenues exceeded 36 million manat ($21.1 million), having increased by 16.5 percent compared to 2019, and expenses - 33 million manat ($19.4 million), said the source.
These indicators prove that Qala Sigorta ended last year with net profit, while 2019 was less successful for the company, namely with a profit of 1.3 million manat ($764,705), the company noted.
“Moreover, a new corporate contract for comprehensive motor vehicle insurance (CASCO) was signed in 2020. Qala Sığorta has attracted for insurance a fleet of vehicles belonging to local Agroleasing OJSC. The amount of insurance premiums under the contract amounted to 8,679 manat ($5,105),” said the source.
“Since its establishment, the company has been constantly keeping the issue of the development of insurance culture in Azerbaijan on the agenda. The company considers it a priority to carry out these activities more intensively in2021,” the source added.
(1 USD = 1.7 AZN on Apr.16)
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