AZERBAIJAN: AzSığorta ended 2018 with profit of AZN 4.7 million, capitalization increased by 16% y-o-y

14 February 2019 — Marina MAGNAVAL
AzSıgorta, which in terms of GWP ranked 8th on the local market in 2018, ended last year with profit of AZN 4.7 million, according to the Chairman of the board of the company, Anar TALYBOV.

The insurer's GWP in compulsory and voluntary insurance in 2018 exceeded AZN 20 million, and its paid claims amounted to AZN 8 million. The company's total assets remained almost unchanged (AZN 61 million). However, the insurer's mid-term assets in 2018 increased from AZN 53.6 million to AZN 54.1 million, as TALYBOV explained.

According to TALYBOV, the company's capitalization in 2018 went up to AZN 34.7 million (vs AZN 29.9 million in 2017). i.e. about 16% up y-o-y.

*1 EUR = 1.9468 AZN (December 31st, 2018)

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