Pasargad Insurance distributed 105 Rials profit among shareholders

According to the monetary financial news quoted by public relations, the annual general assembly of Pasargad Insurance Company with the presence of more than 21.94% of shareholders, the representative of the Central Insurance of the Islamic Republic of Iran, the representative of the Stock Exchange and Securities Organization and the representative of the legal inspector at 10:00 AM on Sunday June 12, 1401 was held at Khatam University in accordance with health protocols and according to the announcement of the Stock Exchange and Securities Organization, meetings were held and shareholders were present at the meeting, provided a vaccine card, mask and social distance were provided in addition to the virtual presence of shareholders.

The Annual General Meeting of Pasargad Insurance Shareholders was held under the chairmanship of Dr. Majid Ghasemi, Chairman of the Board of Directors; Messrs. Ali Akbar Amin Tafreshi and Abbas Kafafi as observers and Dr. Naeemian as secretary of the meeting, accompanied him in holding the meeting and a full report on the activities of the company in 1400 by Mr. Seyed Morteza Hassani Aghda, member of the board and economic deputy and Support was heard and commented by shareholders. It is worth mentioning that after reading the report of the legal inspector and the auditor of the company, the financial statements of the year ending March 20, 2014 were approved by the Pasargad Insurance Company.

Approving the amount of 3,214,890 million Rials in cash profit, appointing the auditing institute and financial services and management of Iran as the main inspector and the auditing firm as the substitute inspector and selecting the information newspaper as the widely circulated newspaper of the company from the approvals of the general assembly The shareholders were Pasargad Insurance.

Also, based on the performance of the 1400 fiscal year and the financial statements presented, the earnings per share (EPS) was set at 1,019 Rials and the amount of 105 Rials cash dividend per share was allocated. Pasargad Insurance Company in the fiscal year 1400 with the issuance of more than 8 million and 212 thousand items of insurance policies produced more than 72.770 billion rials in insurance premiums, which shows a 45% increase compared to the previous year. Also, the amount of compensation paid by the company in 1400 was more than 18.801 billion rials, which has increased by 54% compared to last year.

Also, the very good reception of life insurance and future insurance of the company continued in the reported year and had a very good growth, so that the number of 6,047,000 insurance policies issued at the end of 1399 to more than 7,176 , 000 insurance policies issued at the end of the year 1400 has reached.

According to statistics, 20% of the company’s portfolio is related to car insurance, 68% to personal insurance, 3% to fire insurance, 1% to cargo insurance, 3% to liability insurance and 5% to engineering insurance and various risks. The company’s loss ratio (excluding life insurance and future savings) in 1400 was about 60.6 percent. Meanwhile, according to the statistical yearbook of the insurance industry in 1399, published by the Central Insurance of the Islamic Republic of Iran, the loss ratio of the country’s insurance market in that year for non-life insurance was equal to 82.5 percent.