BAKU, Azerbaijan, October 23. Iran’s Sarmad Insurance Company saw its net income soar by 366 percent in the first six months of the current Iranian year (March 21 through September 22, 2023), compared to the same period last year, Trend reports.
According to the company’s data, it earned 850 billion rials (about $20.2 million) in net income during this period.
The Central Insurance Company of Iran recognized Sarmad Insurance Company as a first-class insurance company for its revenue growth.
In the future years, the company plans to continue increasing its income.
Iran’s Sarmad Insurance Company is a private company. The founders and shareholders of this company are Bank Saderat Iran, Kharazmi Investment Company, and Ghadir Investment Company. This company offers life insurance, car insurance, and cargo insurance services.
Currently, the capital of the company stands at 10 trillion rials (about $238 million).
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