11:25 - 29.03.2024

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March 29, Fineko/abc.az. AzRe Təkrarsığorta OJSC has published a report for 2023.

ABC.AZ reports with reference to the insurance company that AzRe Təkrarsığorta completed 2023 with net profit of 19.394 million mantas (3.269 million manats, or 14% less than in 2022).

The insurer paid 3.601 million manats of income tax (499,000 manats or 16% more than in 2022).

The main operating income of AzRe Təkrarsığorta last year amounted to 115.25 million manats, investment income – 11.511 million manats, subrogation income – 806,000 manats, other income – 636,000 manats, total income – 122.42 million manats.

Compared with the previous year, core operating income increased by 79.583 million manats (3.2-fold), investment income decreased by 3.393 million manats (23%), subrogation income grew by 655,000 manats (5.3-fold), other income increased by 338,000 manats (2.1 total revenues grew by 73.918 million manats (2.5-fold).

The main operating expenses for this period totaled 89.459 million manats, work expenses – 9.309 million manats, other expenses – 658,000 manats, total expenses – 99.425 million manats.

Compared with last year, basic operating expenses increased by 73.661 million manats (5.7-fold), work expenses — by 2.913 million manats (46%), other expenses - by 115,000 manats, total expenses - by 76.688 million manats (4.4-fold).