Xalg Insurance sees profit by end of 2020 

Xalg Insurance OJSC ended 2020 with a profit of AZN 8.061 million, while it lost AZN 17.656 million in 2019.

Report says the incomes rose 3.1-fold to AZN 38.442 million, expenditures went up 1% to AZN 30.381 million. The OJSC did not pay profit tax.

As of January 1, 2021, the assets surged 5.2% to AZN 75.466 million, liabilities dropped 14.1% to AZN 26.277 million, net worth soared 19.6% to AZN 49.189 million.

Xalg Insurance has been in operation since 2004. The authorized capital is AZN 57.75 million.