Pasha Life Insurance, the leading company of Azerbaijan for life insurance published audited international financial statements for 2020.
Pasha Life ranks first in the insurance market in terms of fees. At the end of 2020, Pasha Life collected 221 million manats of insurance premiums and produced 205 million manats of insurance payments. Despite the factors of the pandemic and war, in 2020, the Pasha Life fees portfolio grew by 16%.
On the other hand, compared with 2019, net profit decreased by 23%, reaching 20 million manat. One of the reasons for this was an increase in budgetary funds allocated for corporate social responsibility. The company has actively participating in questions of a pandemic and war embodied several socially significant projects, and also joined some initiatives. These include payments in the funds of Yaşat, support for the fight against coronavirus, the revival of Karabakh; Assistance to the armed forces and various groups of persons affected by the war, support in attracting doctors from Cuba to Azerbaijan to combat Pandemic COVID-19.
By the end of 2020, the total capital of the company reached 61 million manat, the general obligations amounted to 354 million manat.
Pasha Life, one of the most stable companies, this year managed to keep the total assets at the same level. Thus, aggregate assets as of December 31, 2020 amounted to 416 million manat.
The company constantly seeks to provide its customers with the best service and digital solutions. Working on the latest practices in these areas, Pasha Life has already moved to the application of Agile’s methodology for the first time in the life insurance market.
At the present time, the choice, of course, should fall on a reliable and sustainable life insurance company. Under any conditions, your funds must be securely protected and bring you income. There are several ways to do it. But the best – Pasha Life.
Leading Insurance Company – Pasha Life Insurance OJSC operates from November 2010. As of December 31, 2020, the authorized capital of the company is 40,250 million manat. The company offers customers a variety of life insurance products, including “compulsory insurance against accidents and occupational diseases”, “Accumulative investment” and other products for individual and corporate life insurance.