Amrah Insurance posts 9-fold decline in profit

As of January 1, 2019, the assets of Amrah Insurance OJSC amounted at AZN 6.522 million, down 3.2% in comparison to a year earlier, Report informs citing the company.

Liabilities rose by 39.4% to AZN 1.07 million, total capital dropped by 8.6% to AZN 5.452 million.

Incomes slipped by 49.6% to AZN 635,000, expenditures fell by 24.2% to AZN 580,000. No profit tax was paid. Consequently, the OJSC ended 2018 on AZN 55,000 in profit, down 88.9% or ninefold from 2017.

Amrah Insurance was established in 1993 as Deniz Biznes, rebranded in 2013. The authorized capital of the company amounts to AZN 5 million.