AzSigorta finished 1st half of 2018 with net profit of AZN 4 million

12:08 - 26.07.2018


July 26, Fineko/abc.az. AzSigorta, one of the leading insurance companies in Azerbaijan, finished with profit the 1st half of 2018.

The Company reports that in the 1st half of the year its net profit amounted to AZN 4.2 million.

Over Jan-Jun 2018 AzSigorta’s total income, including main operating, investment and other revenues, amounted to AZN 16.577 million that is by AZN 2.239 million or 16% more than in 2017.

For the 1st half of the year Azsigorta’s expenditures decreased by 36% compared to the 2017 same term and amounted to AZN 11.289 million. In the first half of 2017, this figure reached AZN 17.689 million.

For the first 6 months of 2018 the Company directed AZN 5.55 million for main operating expenditures, AZN 5.2 million for fulfillment of works and AZN 497,863 for other expenditures.

As a result, profit before taxation amounted to AZN 5.287 million and net profit AZN 4.2 million.

"Currently, we observe further positive trend registered in the 1st quarter of this year. In general, AZN 4 million of net profit received in the 1st half of the year testifies that the Company is developing in parallel in all areas. At present, we intend to increase the positive indicators, keeping the stability of this dynamics," AzSigorta’s chairman of board Anar Talibov said.

One of the country’s leader insurers has been operating since 2006.

International rating agency Fitch affirmed AzSigorta’s credit rating on reliability and financial stability at the level of ‘B’.

 

 

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