17:24 - 3.12.2025

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December 3, Fineko/abc.az. The net profit of Ipək Yolu Sığorta OJSC for the first 3 quarters of 2025 amounted to 486,000 manats (64.6% less versus Jan-Sept 2024).

ABC.AZ informs that according to company's report,  the decline in profits is due to both a sharp drop in revenue.

Company's overall earnings dropped by 28.2% year-on-year to 5.73 million manats. Core operating income fell by 14.5%. Investment income, on the contrary, increased by 61.9%, partially supporting company's revenue side. The change in net insurance reserves declined by 474,700 manats compared with 2024.

Other income decreased by 72.2%, which caused a significant reduction in the income base. The overall cost reduction was 18.2%. Core operating expenses decreased by 24.4% and operating costs by 33.1%.