Use of certain Iran Insurance reused unused capacities

According to monetary financial news quoted by Istannews; Seyed Rasoul Tajdar, Chairman of the Board of Directors of Iran Insurance, said the above: “Considering the characteristics of VAT exemption, performance tax exemption for companies operating in free trade zones for up to 20 years and the absence of serious and strong competitors in free zones,” Moin Iran Insurance Company started its activity 18 years ago.

He acknowledged that in the last one or two years, the government removed the VAT, which was the most important competitive factor for a certain Iran Insurance Company in free trade and special economic zones, so it had to be decided with a big advantage in What did the company do to take advantage of it?

The Chairman of the Board of Directors of Iran Insurance added: “It was thought about what should be done in order to strengthen the benefits of a certain Iran Insurance Company, which is losing its advantages due to market compulsions and conditions and laws.”

According to Tajdar, it was thought that Moin Iran Insurance Company would operate as a general in the free zones and throughout the country, which was a bigger obstacle to the generalization of Moin Iran Insurance Company, because the company was transferred from free trade and special economic zones to General. Required a license from the Supreme Insurance Council, while a reinsurance activity license does not require a license from the Supreme Insurance Council and is only possible with a central insurance license.

The Chairman of the Board of Directors of Iran Insurance stated: Due to the advantage of the reliance license, which only required a license from the Central Insurance, so this issue was put on the agenda and went in the direction of changing the subject, which was done according to the assembly.

Tajdar, in response to the question of whether Moin Iran Insurance Company will use Iran’s surplus insurance portfolio? He emphasized: Iran Insurance Company’s view of Moin Iran Insurance Company is the view of the commercial law on companies and a competitive view, and Iran Insurance risks will be offered in the market, and any company that has better conditions and rates will be assigned to it, while potential, capital And the capabilities of the company will be taken into account, so your answer is no.

The Chairman of the Board of Directors of Iran Insurance stated regarding the measures taken regarding Moin Iran Insurance: In two specific formats, both public and private company, Moin Insurance Company can continue its activities, but the initial plan is to be in the form of a company. When a public stock is offered on the stock exchange, it will start its reliance activity.
Referring to the presence of state reinsurance companies in neighboring countries such as Turkey, Russia, India and Malaysia, he added: “If the capacity of the government and the $ 1 billion in the special sanctions fund can be used, Iran will also have a reinsurance company.” It becomes a strong government, which is part of the plans in the long run.

Tajdar said: “In the short term, due to the increase in investments made in certain Iran Insurance to date, the company’s shares will be offered in the form of initial public offering and Iran Insurance will benefit from the advantages of initial public offering, while being more transparent.” The company is helped.

He added: “Exchange companies are required to comply with many rules and regulations, including the dissemination of information, which also contributes to the transparency of the company, and improving the economic situation of Iran Insurance Company for its multi-year investment in the company can be done through initial public offering.” Have a good.

The Chairman of the Board of Directors of Iran Insurance acknowledged that the capital of Iran Moin Insurance Company is about 800 billion Tomans and the initial public offering of the company’s shares is over-the-counter, considering the capital increase from the revaluation of assets and potential that it currently has. It can be actualized up to 1400 billion Tomans and Iran Moin Insurance Company has the ability to increase capital.

Tajdar believes that due to the existing capacities in the country’s reins market and the withdrawal of central insurance from the reins market, which is provided for in the Fifth and Sixth Development Plan law, there are many unused capacities in the country’s reins market. It can use them well and the vacancy of a large reliance company in the country is quite noticeable.