Sogaz net profit to IFRS climbs 18.6% in 2011
MOSCOW. July 23 (Interfax) - Russian insurance company Sogaz posted net profit to International Financial Reporting Standards (IFRS) of 6.93 billion rubles in 2011, up 18.6%, an audited company report, published on the Sogaz website shows.
Pretax profit was 9.02 billion in 2011, compared to 7.44 billion the previous year.
Insurance premiums grew from 51.2 billion to 60.3 billion rubles.
Assets reached 109.2 billion rubles, up 21.6% in the year. Deposits in banks amounted to 31.7 billion rubles, securities to 16.85 billion, receivalbes to 12.86 billion, fixed assets and intangible assets amounted to 9.56 billion and cash to 8 billion rubles.
Liabilities reached 74.9 billion rubles, up from 61.2 billion. Equity was over 34.3 billion on December 31 2011, up from 28.6 billion at the start of the year.