Xalg Insurance sees 49% growth in net profit

As of January 1, 2019, Xalg Insurance’s assets stood at AZN 58.951 million, up 11.4% in comparison to a year earlier, Report informs.

The company says the liabilities rose by 56.5% to AZN 10.48 million, total capital grew by 4.9% to AZN 48.471 million, authorized capital surged by 3.37% to AZN 46.188 million.

Revenues increased by 7.4% to AZN 13.099 million, expenditures dropped by 0.4% to AZN 10.276 million, payments on profit tax advanced 51.7% to AZN 572,000. The company ended 2018 on AZN 2.25 million in net profit, which is 49.3% higher than 2017.

Xalg Insurance has been in operation since 2004.