Azerbaijan-based insurers see 1% growth in total assets

As of January 1, 2021, the total assets of Azerbaijan-based 19 insurers, excluding Mega Life Insurance OJSC, stood at AZN 1,212,766,000, up 0.8% from the previous year.

In the reporting period, 13 insurers increased their assets, 5 insurers decreased. As the Joint Agrarian Insurance company was not on the market in 2019, its assets and other financial data were not calculated.

The long-term assets rose 8.5% to AZN 457.615 million, while the short-term assets dropped 3.4% to AZN 755.151 million. During the period, 9 insurers increased long-term assets, 12 insurers – short-term assets.

Total liabilities went up 0.7% to AZN 768.243 million. 13 insurers saw a rise in liabilities, while 5 recorded a decline. The long-term liabilities slipped 7.3% to AZN 672.727 million, while the short-term liabilities climbed 2.5-fold to AZN 95.515 million. 12 insurers increased the long-term liabilities, 13 insurers short-term liabilities.

The net worth went up 1.1% to AZN 444.523 million, authorized capital rose by 0.9% to AZN 324.188 million.