Ateshgah insurance company, one of the leading firms in Azerbaijan, has reported a net profit of 3.35 million manats ($1.97 million) in 2020, up from 1.18 million manats in 2019, the company said in a statement.

The company’s revenues reached 32.66 million manats, including insurance premiums of 25.31 million manats and investment incomes of 0.72 million manats.

The company’s expenditures were at 28.70 million manats. Pre-tax profit was 3.95 million manats.

Ateshgah said it had reduced its assets by 9.7 percent year-on-year to 36.82 million manats, liabilities by 25 percent – to 20.87 million manats. The company’s capital was increased by 23.5 percent to 15.94 million manats.