BAKU, Azerbaijan, March 31. The net profit of Azerbaijan’s Xalq Sigorta insurance company amounted to slightly over five million manat ($2.9 million) in 2021, Trend reports via the company’s balance sheet published in “Xalq qazeti” (Xalq newspaper).
According to the data confirmed by the audit report, the company's income last year equaled 38 million manat ($22.3 million), paid insurance premiums – 35.6 million manat ($20.9 million).
Meanwhile, spending of the company stood at nearly 33 million manat ($19.4 million), returned premiums – 706,000 manat ($415,290), and premiums transferred for reinsurance – 1.5 million manat ($880,000).
Besides, business expenses amounted to 7.6 million manat ($4.4 million), deductions to the preventive measures fund – 206,340 manat ($121,380), and other expenses – 1.03 million manat ($610,000).
The company's profit before taxes also made up slightly over five million manat.
The company's assets increased by 6.46 percent - up to 80.3 million manat ($47.2 million), and capital - by 10.22 percent - to 52.2 million manat ($30.7 million), while liabilities reduced by 0.58 percent - to 26.1 million manat ($15.3 million) in 2021 compared to 2020.
