11:47 - 24.04.2026

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April 24, Fineko/abc.az. The net profit of Qala Sığorta OJSC in the 1st quarter of 2026 amounted to 2.89 million manats (35.21% less against 4.46 million manats for Q1 of 2025).

ABC.AZ informs, referring to company's report, that in addition, because of withdrawal of retained earnings, the volume decreased from 25.73 million manats in the 1st quarter of 2025 to 14.09 million manats for Q1 of this year. As a result, the capital buffer dropped from 18.29 million manats to 3.66 million manats for Jan-Mar 2026.

The main impact on the decline in profit was a drop in overall revenues by 18.73% to 20.77 million manats and a serious decrease in core operating income. At the same time, positive impact on the change in net insurance reserves, although it compensated for some of the losses (5.92 million manats this year versus minus 2.93 million manats in the previous year), could not prevent the overall decline.

Qala Sığorta's expenses reached 17.16 million manats and reduced by 14.12%.