BAKU, Azerbaijan, May 7. Iran's Mellat Insurance Company has collected 24 trillion rials more in insurance premiums — an equivalent of around $43.2 million—in the first month of the current Iranian year (from March 21 through April 20, 2025) compared to the same period last year (from March 20 through April 19, 2024).
Data obtained by Trend from the company indicates that total premiums collected, including reinsurance, amounted to 26.8 trillion rials (about $48.3 million) for the month. In contrast, the company had collected just 2.82 trillion rials (about $5.07 million) in the same month of the previous Iranian year, representing a 9.5-fold increase year-over-year.
In terms of payouts, Mellat Insurance disbursed 8.74 trillion rials (about $15.7 million) in compensation for claims in the reporting month, compared to 738 billion rials (roughly $1.33 million) during the same period a year earlier.
Notably, Iran's Mellat Insurance Company was founded in 2003 with a capital of 200 billion rials (around $4.76 million). The company’s major shareholder is Saba Tamin Financial Group Company, a subsidiary of Iran Social Security Investment Company (known as SSIC or Shasta). Mellat Insurance Company provides services in areas such as life, automobile, fire, cargo, and other types of insurance.
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