Gala Life Insurance sees more than 50% decline in net profit

Gala Life Insurance sees more than 50% decline in net profit
# 06 April 2018 11:23 (UTC +04:00)

In 2017, Gala Life Insurance OJSC’s assets declined 14.8% to AZN 38,944,889.

 

Company says the liabilities increased by 28.8% to AZN 19,937,718.

 

Total capital grew 7.3% to AZN 19,007,171.

 

Incomes stood at AZN 29,923,659.54, expenditures at AZN 28,280,901.57. Insurance premiums amounted to AZN 19,967,623, down 37.5% from previous year. Investment incomes made up AZN 2,383,043.

 

Insurance payments amounted to AZN 17,678,319, premiums on reinsurance to AZN 2,119,311.   

 

The company ended 2017 on net profit of AZN 1,288,777.18.

 

Deposits placed in banks decreased by 34.9% to AZN 13,751,216. 

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