History

Acquaintance with Alborz Insurance Company

Alborz Insurance Company was established as a private entity in July 1959, with the primary aim of providing superior quality insurance services, generating diversity in insurance business and attaining customer satisfaction, and within a short span of time was able to obtain the confidence of owners of capital and commodities.
 
 

After the victory of the Islamic revolution, AIC, due to its successful prior record, continued its operation under the same name, and was nationalized by virtue of the bill approved by the revolutionary council and in compliance with Article 1 of the aforesaid law. Its administration was assigned to the Joint Board of Directors, consisting of the President of Bimeh Markazi, Managing Director of Bimeh Iran, and the general assembly led by the Ministries of Economic Affairs and Finance, Commerce, Labor and Social Affairs, Health and Welfare and the Executive and Supervisor of the plan and budget.

AIC,which over the years, has always been, in most of the indexes, such as Customer Orientation, a proficient presence in the Capital market, operational Efficiency and Information Technology, was the country`s leading company in the insurance industry. AIC has been frequently praised by the Government, members of  Parliament and other governmental officials.

During the year 2009, with the exceptional reception by the Investors and Stock Activists, AIC, succeeded in presenting and selling its shares in the Stock Exchange as a state entity, subject to Article 44 of the Constitution, and setting a record for the sale of shares in the shortest period of time, while being the first Insurance Company to be able to register its name in the country`s Stock Exchange, thereby changing its ownership from a state-owned to a private insurance company.

Presently, with 56 Branches, 1677 agents and 476 brokers throughout the country,AIC is ready to provide insurance services to its countrymen.

Alborz Insurance Company, with a capital of 3600 billion Iranian rials at the end of the year 1393, has the highest capital among the present private insurance companies in the insurance industry of Iran. Moreover , because of its legal obligation and to increase of  insuring capacity of the company , the board of directors plans to increase the capital to the amount of 400 billion Iranian rials , corresponding to 11 percent of its current capital , from the retained earnings , by the end of Shahrivar 1394 (September 2015) .

Alborz Insurance Company , because of successful performance in the insurance industry , is currently one of the four premier insurance companies of Iran , and it is active in all insurance activities, such as personal insurance , automobile , fire , liability , engineering , endowment and investment , Omid Afarin and other commercial business insurance for providing security and comfort for the insured persons
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Date of Registration: 1394/08/20
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