The net profit of "Gala Hayat" OJSC in 2022 increased by 65.4% compared to 2021 and amounted to 7 million 842 thousand manats.

The insurance company announced a net profit of 4 million 741 thousand manats in 2021.

"APA-Economics" informs about this with reference to the insurance company's financial report for 2022.

During this period, the investment income of the insurance company decreased by 20.5% to 1 million 379.9 thousand manats.

Last year, the main operating income of "Gala Hayat" OJSC increased by 10.8% to 21 million 249.7 thousand manats compared to 2021, and other incomes increased by 93.8% to 91 thousand manats.

Total revenues of "Gala Hayat" OJSC amounted to 22 million 404.6 thousand manats, which is 15.8% more than in 2021.

During the reporting period, the main operating costs of the insurance company decreased by 29.6% to 3 million 459.9 thousand manats, including insurance payments decreased by 24% to 2 million 372.7 thousand manats, the costs of reinsurance increased by 4.2% to 341.7 thousand manats, the costs of conducting work increased by 9.8% to 8 million manats. It was equal to 244.4 thousand manats.

The total expenses of "Gala Hayat" OJSC were 12 million 556.5 thousand manats, which is 5% less than in 2021.

In 2022, the financial profit of the insurance company increased by 60.3% compared to 2021 and reached 9 million 848.1 thousand manats.

In 2021, the insurance company made a financial profit of 6 million 145.6 thousand manats.

Last year, the assets of "Gala Hayat" OJSC decreased.

So, as of January 1 of the current year, the total assets of the insurance company decreased by 5.3% and equaled 43 million 219.6 thousand manats.

In 2021, the total assets of the insurance company were equal to 45 million 630.6 thousand manats.

During this period, the total liabilities of the insurance company decreased by 18.4% to 18 million 133.8 thousand manats, and the total capital increased by 7.11% to 25 million 85.8 thousand manats.