FIRST AND THE ONLY ONE IN AZERBAIJAN
AzRe Reinsurance OJSC is the first and the only reinsurer on Azerbaijan market. The company was founded in 2007, total equity of the company as of January 01, 2018: AZN 77.3 million (~EUR 38.06 million) * and total assets exceed AZN 102.2 million (~EUR 50.33 million). Share capital of AzRe Reinsurance is AZN 50 million (~EUR 24.6 million). Net profit in 2017 was AZN 21.4 million (~EUR 10.53 million). Total income for 2017 was AZN 54.6 million (~EUR 26.88 million) and total expenses amounted to AZN 28.8 million (~EUR 14.18 million). Paid income tax amounted to AZN 4.4 million (~EUR 2.16 million) from the gross profit of AZN 25.8 million (~EUR 12.7 million). In 2017 reinsurer generated AZN 50.4 million (~EUR 24.81 million) of GWP. Market share is 43% of all outgoing reinsurance in Azerbaijan.