Azerbaijan Industry Insurance ends 2018 on loss

As of January 1, 2019, the assets Azerbaijan Industry Insurance OJSC amounted to AZN 18.729 million, down 16% from the previous year.

Report informs citing the company that its liabilities rose by 28% settling at AZN 7.209 million, while total capital dropped by 31% to AZN 11.522 million.

Incomes fell by 6.7% to AZN 9.492 million, expenditures slipped by 16.2% to AZN 11.664 million. Consequently, ended 2018 on AZN 2.172 million in loss, while in 2017 it had AZN 141,000 in profit.

Azerbaijan Industry Insurance is a legal heir of CI Insurance which was established in 1996. Its authorized capital makes AZN 11 million.