Discovery of the secret of the 263% jump in the interest of Mellat insurance

According to the financial news report, quoted by the public relations of Mellat Insurance, quoted by the world of insurance, this news site tries to analyze the performance of Alireza Yazdan Dost in the first semester of 1402 in Mellat Insurance with a registered capital of 30 thousand 657 billion 213 million Rials. The identification amounting to 1,982 billion and 924 million riyals of this insurer in the first half of this year was discovered and disclosed.

Investigations of the insurance world show that Mellat Insurance Company had recognized a profit of 545 billion and 878 million Rials in the first half of last year, and Yazdan Dost took over the helm of the said company on September 20 of last year, which at the very beginning increased the maximum satisfaction of policyholders. had targeted the pre-planned reforms and therefore implemented the policy of attracting high-risk portfolios, especially in the field of treatment, and even stopped renewing contracts with some previous insurers.

In the second half of the year 1401, however, the effects of this rail change were gradually visible in Mellat Insurance, and at the end of the year, this company managed to register a net profit of 2,121 billion and 867 million Rials, and this was just the beginning of a road. . At the beginning of the year 1402, observers and analysts were monitoring the performance of Yazdan Doost and at the end of the spring season, it became clear that in the first 3 months of the year, Mellat Insurance managed to increase its profit by 442% to 772 billion and 108 million Rials, that is, to make a profit of 25 rials per share; To put it more clearly, 400% more than the spring of 1401!

Now that the year 1402 has passed halfway, it has become clear that Mellat Insurance managed to register a net profit of 1,982 billion and 924 million Rials in the first 6 months of this year. That is, close to the total net profit of last year and thus make a profit of 65 Rials per share, of which 57 Rials of this profit is operational.

Discover a mystery
The goal of Mellat Insurance from the competition has been clearly stated in advance and this insurer in the market in 1402 sought to develop a suitable insurance portfolio and achieve greater growth than in 1401. The production insurance premium of this company in 1401 was estimated at 31 thousand 887 billion 710 million Rials and in the first 6 months of this year, Mellat Insurance managed to sell 21 thousand 460 billion 217 million Rials and it is predicted that in the second half 1402 to have an income of 19 thousand 876 billion 818 million Rials from insurance premiums. Although it seems that the amount of sales will exceed this figure.

One secret of the jump in profit in the Mellat Insurance family, which is attractive to the shareholders, is the 78% growth in premiums issued in the first half of this year compared to the same period last year. Also, in the situation that this growth occurred with smart adjustment in the company’s insurance portfolio, the result of which can be seen in the significant reduction in the cost of Mellat’s insurance claims.

In the first 6 months of this year, this insurer with the highest level of wealth has paid 10,430 billion and 244 million Rials in damages, which has increased by only 21% compared to the first 6 months of 2011. The 78% growth in the sales of Mellat Insurance, along with the 21% growth in claims paid, shows its effect in the ratio of claims to production insurance premiums of this company, so that the ratio of claims decreased from 71% at the end of September last year by 22 percentage points to 49% in The end of September this year has arrived.

The removal of major insurers in the field of medical treatment from the portfolio of Mellat Insurance also reveals another secret of the puzzle of Mellat Insurance’s profitability in such a way that with the reform of the portfolio and the selection of low-risk insurers, the share of medical insurance from the total claims paid by this company in the first half This year, with a decrease of 13 percentage points compared to the first half of last year, it will reach 35%.

As a result, the income of Mellat insurance from gross insurance premiums at the end of September this year reached 17 thousand 653 billion 823 million Rials and the share of the maintenance of the symbol of Mellat reached 14 thousand 341 billion 8 million Rials and the company’s insurance income also grew by 50%. By the end of September last year, it has increased to 15,770 billion and 807 million rials.

The important point here is that in the national insurance portfolio, not only the share of medical treatment has not decreased, but the insurance premiums produced in this field at the end of September this year have grown by 390% compared to the same period of the previous year, as well as the sale of fire insurance by 162%, engineering insurance by 138% and Car body insurance has grown by 89%. In this way, bypassing direct insurance and high-risk insurers and relying on the power and expertise of the agent network, and of course large contracts with less risky customers, has caused the sales of Mellat insurance to grow by 78% and the net profit of the first semester of 1402 of this company by 263%. kill With the continuation of this process, it seems that the shareholders of Mellat insurance will see a good profit at the end of the year.