Ateshgah Life Insurance posts 38% growth in profit

As of January 1, 2019, the assets of Ateshgah Life Insurance OJSC amounted to AZN 89.427 million, up 60.3% from the previous year.

Report informs citing the company that its liabilities rose by 74.4% to AZN 70.568 million, while total capital dropped by 23% settling at AZN 18.86 million.

Incomes fell by 55.85% to AZN 31.619 million, expenditures slipped by 64.4% to AZN 23.364 million, profit tax rose by 37.8% to AZN 1.651 million. Consequently, the OJSC ended 2018 on AZN 6.604 million in net profit, up 37.8% by contrast to 2017.

Ateshgah Life Insurance has been in operation since 1998. Its authorized capital is AZN 6.5 million.