Azerbaijan-based insurers see 13% growth in assets

As of January 1, 2020, the assets of Azerbaijan-based 21 insurers, excluding Nakhchivan Insurance OJSC, stood at AZN 257.482 million, up 12.8% from the previous year.

In the reporting period, 15 insurers increased their assets, 6 insurers decreased.

The long-term assets rose 17.45% to AZN 436.157 million, short-term assets surged 10.5% to AZN 821.325 million. 15 insurers increased long-term assets, 11 insurers – short-term assets.

Total liabilities went up 18.3% to AZN 782.79 million. 14 insurers saw a rise in liabilities, while 7 insurers recorded a decline. Long-term liabilities grew 18.2% to AZN 743.04 million, short-term liabilities climbed 20.2% to AZN 39.75. 14 insurers increased the long-term liabilities, 13 insurers short-term liabilities.

Authorized capital rose 6.65% to AZN 366.335 million.