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On 14 November 2010, 54 Million of equity shares of Parsian Insurance Co. equivalent 5 percent of total shares, (as 4th listed insurance company) was offered by the Parsian Bank as its main shareholder, on Tehran Stock Exchange at the price of IRRial 3,304 (0.31 US dollar) with the total value of IRRial 178 billion (17 $million). Retail investors bought about 87% of the offered shares and other (13%) were bought by institutional investors.
Parsian Insurance Company was established on 29 March 2003 with the fully paid-in capital of IRRial 160 billion and it could receive the authorization for its insurance activities for all insurance fields from Iran Central Insurance on 19 August 2003. The company started its activity as a private insurance company on the date 19 August 2003.
Conducting direct insurance operations in all fields, the company provides life and non-life policies, acquisition of reinsurance cover with respect to policies issued, investments out of the company’s capital, technical and legal reserves and provisions, reinsurances from other domestic insurance institutes (including governmental and non-governmental and/or registered in free zones) in compliance with the measures specified by Iran Central Insurance Company.
