BAKU, Azerbaijan, June 11. Premium collections of Iran's Mellat Insurance Company grew by 409 percent during two months of the current Iranian year (from March 21 through May 21, 2025) compared to the same period last year (from March 20 through May 20, 2024).
The data obtained by Trend from the company shows that the aggregate
premiums accrued, inclusive of reinsurance contributions, reached
approximately 41.9 trillion rials (about $65.1 million) during the
reporting timeframe, in contrast to 8.23 trillion rials (around
$12.8 million) recorded in the corresponding two-month period of
the preceding Iranian fiscal year.
Regarding disbursements, Mellat Insurance allocated 17.5 trillion
rials (approximately $27.3 million) in indemnities for claims
during the reporting period, signifying a substantial increase of
over six times compared to the corresponding timeframe from the
previous year (2.62 billion rials, or around $4.07 million).
It is significant to highlight that the inception of Iran's Mellat
Insurance Company occurred in 2003, characterized by an initial
capitalization of 200 billion rials, which approximates to $4.76
million. The principal equity holder of the enterprise is Saba
Tamin Financial Group Company, which operates as a subsidiary under
the umbrella of Iran Social Security Investment Company, commonly
referred to as SSIC or Shasta. Mellat Insurance Company offers a
comprehensive suite of risk management solutions encompassing life
coverage, automotive protection, property and casualty insurance,
marine cargo policies, and a diverse array of additional indemnity
options.
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