As of January 1, 2019, the total assets of Azerbaijan-based insurers, excluding Nakhchivan Insurance OJSC, amounted to AZN 1,099,629,000, up 22.8% from the previous year.
In the reporting period, 11 insurers saw their assets increasing, while 9 posted decline.
Long-term assets rose 2.2-fold to AZN 371.34 million, while short-term assets dropped to AZN 728.288 million. 11 insurers increased long-term assets, whuile 10 insurers could increase their short-term assets.
Total liabilities surged by 41.3% to AZN 661.896 million with 14 insurers posting increase in their liabilities and 6 seeing decline. Long-term liabilities soared by 43.4% to AZN 628.827 million, short-term liabilities climbed 11.1% to AZN 33.07 million. 13 insurers witnessed a growth in their long-term liabilities, 12 insurers posted increase in their short-term liabilities.
Both total and authorized capital grew by 2.5% to AZN 437.732 million and AZN 328.501 million, respectively. 13 insurers increased their total capital, while 3 could attain a growth in authorized capital.