New insurance capital increase approved
According to Monetary and Financial News, quoting Public Relations and International New Insurance; The Extraordinary General Assembly of the company was held to decide on the capital increase with the presence of 54.81% of shareholders.
In this assembly, after announcing the formality of the meeting, in accordance with Article 101 of the Commercial Code, the presidium of the assembly was elected by a majority of votes and the extraordinary general assembly of New Insurance was elected by Isa Shahsavar Khojasteh; Chairman of the Board of Directors of Novin Insurance as Chairman of the Assembly, Homayoun Bagheri Tadi, Representative of Behshahr Industrial Development Company and Mehdi Nezadi Noshabadi, Representative of Eghtesad Novin Bank as Supervisors of the Assembly, Shaghayegh Deilmipour; Financial Manager of Novin Insurance as the secretary of the meeting and the presence of representatives of the Exchange and Securities Organization and Central Insurance c. ا. Iran was held.
At the beginning of this assembly, Hossein Karim Khan Zand; While presenting a report on the company’s performance, the CEO of Bimeh Novin said: “Fortunately, Bimeh Novin is in a favorable situation in terms of acquiring a portfolio and loss ratio by observing risk management, and it is predicted that we will reach a 2000 billion Toman portfolio by the end of this year.”
He also said: “Among the reasons for the increase in capital in the new insurance is the possibility of obtaining a rejection acceptance license and increasing the risk holding capacity, which in the long run will lead to increased profitability for the company and shareholders.” Increasing capital is also effective in promoting the financial wealth of insurance companies. Financial wealth is an indicator that is the basis for decision making to enter and interact with large economic companies.
According to this report, in the extraordinary general assembly of Novin Insurance, it was agreed to increase the company’s capital from 2,624,000 million Rials to 5,000,000 million Rials from the accumulated profit in one step.