Insurance

Mellat Insurance at a glance

Mellat Insurance Company (Public Stock) was registered on 08/12/1382 with number 211230 and national ID number 10102526951 in Tehran Companies and Non-Commercial Institutions Registration Office and on 09/04/1382 with license number 23863 of Central Insurance of the Islamic Republic of Iran.

The initial capital of the company at the time of establishment was 200 billion Rials and currently, based on the decisions of the Extraordinary General Assembly dated 22/10/2015 and the minutes of the Board of Directors meeting dated 19/06/1995 and approval number 95/602/46007 dated 09/09/95 21 central insurance has reached the amount of 2850 billion Rials.

 Also, in the extraordinary General Assembly dated 03/03/1400, the increase of the company’s capital in the amount of 30,657 billion Rials was approved and registered in the Companies Registration Office on 04/28/1400.

Emphasizing customer orientation, Mellat Insurance always tries to employ experienced managers and expert experts in order to provide the best and most competent services to its policyholders, as well as speed up the economic growth and development of the country, increase productivity and quantitative and qualitative growth of the insurance industry, steps effective

This company has been able to play an important role in supporting production and job-creating activities in the country by concluding large contracts in various industries. Fortunately, this year, for the ninth year in a row, Mellat Insurance achieved the highest wealth rating among domestic insurance companies based on the official report of the Central Insurance, which indicates the ability and correct movement of this group in the direction of customer orientation, transparency and providing the best possible services to members of society.

Mellat Insurance, in accordance with the central insurance strategy for the development of life insurance and by providing various life insurance products for Iranian families, has been able to cover a large number of students, housewives and different classes of life insurance.

Subject of the company’s activities:

1- Conducting direct insurance operations in all types of life and non-life insurance fields based on the activity license issued by the Central Insurance of Iran.

2- Acceptance of reliance insurances from domestic, regional and international insurance institutions on a mutual basis and within the scope approved by the Central Insurance of Iran.

3- Investing from the place of capital, reserves and technical and legal reserves within the framework of the rules approved by the Supreme Council of Insurance.

Human Capital

In companies providing financial services, the existence of specialized and experienced human resources is essential and guarantees profitability and success in achieving the company’s basic goals.

In the insurance market, insurance companies owe their success to their specialized and experienced managers and employees.

In general, the existence of experience, expertise, motivation and correct planning are among the factors that help an insurance company in developing its activity in the field of portfolio attraction, risk assessment and control, and correct payment of damages.

The status of the number and composition of Mellat Insurance’s human resources by age and education:

Mellat Insurance in Brief

  • Underwriter of Life & Non-Life business
  • One of the largest private insurance companies with 30,657 billion Rials in total capital
  • Active in all lines of outward and inward Reinsurance market since 2005
  • The 1st and only private insurance company in Iran with foreign inward reinsurance authorization from regulatory authority (Central Insurance of IR Iran) since 2015
  • Consumers Rights Certificate holder from Iran’s National Consumers and Producers Protection Organization
  • Being ranked 1st level based on national financial solvency system
  • Client service capabilities across the country includes; over 1000 Agents with 700 full time employees
  • Listed on Tehran stock exchange with initial public offering on July 9th, 2012
  • The first Insurance company in Iran to issue CAT Bonds

 

Major activities

Performing life and non-life insurance operations

 Providing risk management solutions for our clients

Providing reinsurance coverage (Inward and Outward reinsurance)

Mellat Insurance Main Strategies                                          

  • Expansion, entrepreneurship, productivity and integrity of systems
  • Innovation in delivering services
  • Exploitation of information technology, e-commerce and introduction of e-insurance
  • Strategic investment in long-term and high return industries to maximize our customers and shareholders’ interests
  • Close Co-operation with domestic and international insurance and reinsurance companies
  • Creating economic value added for all beneficiaries

Mellat Insurance Company in Tehran Stock Exchange

  • Initial public offering: July 9th 2012
  • Sector: Insurance and retirement pension funds
  • Free float share: 5%

 

Mellat Insurance Lines of Business

Mellat Insurance Company as one of the largest private insurance companies in Iranian market offers a diverse portfolio of life & non-life products and services to corporations and individual clients also plays a leading role in private insurance sector. We have a considerable market share locally based on Gross Written Premium.

  • Non-Life

– Engineering – Marine Cargo – Oil & Energy – Liability – Fire – Accident – Aviation – Motor TPL – Motor Vehicle property damage – Marine Hull / P&I – Health – Travel

  • Life

 – Term life – Universal life

  • Reinsurance

 – Facultative in all classes

– Domestic Treaties