BAKU, Azerbaijan, July 18. The revenues of Iran's Sarmad Insurance Company increased by 319 percent in the last Iranian year (from March 21, 2023 through March 19, 2024) compared to the previous year (March 21, 2022, through March 20, 2023), the statement of Iran's Sarmad Insurance Company said, Trend reports.
According to the information, the income of Iran's Sarmad Insurance Company last year amounted to about 1.85 trillion rials (about $4.73 million).
The information noted that Sarmad Insurance Company's net income last Iranian year amounted to 1.03 trillion rials (about $2.65 million). This is 259 percent higher than a year earlier.
Furthermore, it is reported that the capital of Sarmad Insurance Company increased to 10 trillion rials (about $25.6 million) during the last Iranian year.
The company's capital increased by 28 percent year-on-year. A year earlier, the company's capital amounted to 6.76 trillion rials (about $17.3 million).
To note, Iran's Sarmad Insurance Company is a private company. The founders and shareholders of this company are Saderat Bank of Iran, Kharazmi Investment Company, and Ghadir Investment Company. This company is engaged in life insurance, auto insurance, and cargo insurance.
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