The financial statements of Sarmad Insurance 1401 were approved
According to the financial news report, quoted by Sarmad Insurance Public Relations, the Annual General Assembly of Sarmad Insurance Company was held on Saturday, July 31st, with the presence of 85.79% of the shareholders, and the financial statements of the year ending on March 29th, 1401 were approved.
A clear report from the CEO of Sarmad Insurance
Seyyed Mohammad Mahdi Beheshtinejad, CEO of Sarmad Insurance Company, who took over the helm of this company since the winter of 1401, referring to the performance of Sarmad Insurance during 1401, said: since 1993, the company’s prosperity has been decreasing, but in 1401, this index will reach its lowest level, and the plans made at the end of last year will restore the financial prosperity of this company.
He further pointed out an important point in the financial statements of Sarmad Insurance as of March 1401 and said: In 1400, this company faced a loss of 348 billion tomans, which was reduced by modifying the portfolio composition and risk management, and at the end of the financial year, it turned into a profit of 28.8 billion tomans.
Beheshti Nejad, while explaining the performance of Sarmad Insurance, pointed to the return on investments and said: The return on investments was not favorable until 1400 and was in loss. But we were able to make this index profitable with written plans in 1401.
Referring to the 50% average growth rate of insurance premiums issued in the country’s insurance industry, the managing director of Sarmad Insurance said: This figure was 23% in Sarmad Insurance in 1401, which is lower than the industry average and should reach the industry average with consistent planning.
Beheshti Nejad further said: The average production insurance premium of Sarmad Insurance Company shows that this company has moved more towards headquarters sales and has benefited less from the benefits of retail sales.
He stated: In the upcoming plan, we have to move towards retail and strengthen the representative network.
The managing director of Sarmad Insurance further mentioned the composition of the company’s portfolio and said: 19% of the tertiary sector, 43% of the medical sector, 16% of the life sector and 22% of the other sectors have a share in the portfolio of Sarmad Insurance.
The managing director of Sarmad Insurance said in this context: Modifying the portfolio composition and moving towards low-risk portfolios is one of the important plans of Sarmad Insurance in 1402.
Beheshtinejad added: The use of the capacities of the shareholder portfolio will also be implemented in the form of presenting new plans and bilateral cooperation.
The Managing Director of Sarmad Insurance continued to point out the loss ratio of his company in the last three years and said: The loss ratio of Sarmad Insurance increased to 66% in 1400 and 86% in 1401.
In the annual ordinary general assembly of Sarmad Insurance, Seyed Mehdi Javadi, the chairman of the board of directors, was elected as the chairman of the assembly, Mohsen Tamjid (representative of Saderat Bank) and Mohammad Zahidnia, a member of the board of directors, were elected as supervisors of the assembly, and Hasanpour Kazemi, the vice president of finance and investment of Sarmad Insurance, was elected as the secretary of the assembly.
The annual general meeting of Sarmad Insurance began with the presence of the representative of the foreign exchange, the representative of Central Insurance and the auditor, as well as Seyed Mohammad Mehdi Beheshtinejad, the CEO of this company, and Ali Ostad Hashemi, the deputy supervisor and member of the Central Insurance Board of Directors.
The perspective of Sarmad until the end of 1402
Beheshtinejad further pointed to the important plans of Sarmad insurance until the end of 1402 and said: upgrading the company’s financial prosperity to the level of one of the most important plans of the management team of Sarmad, because with the increase of financial prosperity, the capacity to accept more risks will be provided for the company.
He further mentioned the increase of capital of Sarmad Insurance until the end of 1402 and said: By the end of this year and according to the schedule, the capital of Sarmad Insurance Company will increase to 1000 billion tomans, which will be effective in improving the level of financial prosperity.
Beheshti Nejad announced the revision of the company’s strategic document, control of internal risk management with technical algorithm and increasing the market share of oil and energy insurance among other plans of Sarmad Insurance Company.
It should be noted that, in the continuation of this meeting, the shareholders approved the financial statements of Sarmad Insurance for the fiscal year 1401 with a vote in person.
According to this report, Iran newspaper was chosen as the company’s newspaper to insert advertisements.