Cooperative insurance was upgraded to the OTC secondary market
According to the monetary financial news, quoting the public relations of Cooperative Insurance, Mona Sadat Kaboli, the director of OTC admission to Iran, said: The trading symbol and the one hundred and sixty-second company were listed in the second OTC market of Iran.
The presence of Cooperative Insurance Company in the second OTC market of Iran is considered as more financial transparency and as a result, obtaining a credit rating is more desirable.
Also, due to this presence, the shareholders of this company can benefit from privileges such as “increasing the stock fluctuation from 3 to 5%”, “obtaining facilities from the bank with stock collateral”, “tax exemption up to 25%” and the like. .
It should be noted that the Cooperative Insurance Company announced on January 1, 2010 that the request to accept the shares of this company (public joint stock cooperative) was presented at the OTC Admission Board meeting and it was conditionally agreed to be accepted in the second OTC market of Iran.
It is worth mentioning that this company started its activity on November 3, 2013 as the one hundred and fifty-second trading symbol of the OTC market in the insurance group and the pension fund, and was the first company to undergo all its underwriting only through the OTC and brokerage network. Done.
This caused the then head of the OTC Market Operations Department of Iran in June 2015, referring to the welcome of the transactions made by the Cooperative Insurance Company, to say: “Cooperatives are the basic market.”
It is worth mentioning that maintaining the level of a financial wealth rank, reducing the tax required for the performance of 2017 and 1397 in the amount of 40 billion Rials, controlling the loss ratio, attracting and retaining customers, continuous follow-up of receivables, proper distribution of insurance risk by reinsurance and obtaining ISO 31000 standard risk management certification along with obtaining a certificate of commitment to organizational excellence is another item that has been included in the achievements of the cooperative insurance company in 1999 to serve all its stakeholders as much as possible.
