Pasargad Insurance Company

What Pasargad Insurance Company does

Pasargad Insurance Company (شرکت بیمه پاسارگاد) is a Tehran-headquartered, publicly traded multi-line insurance carrier incorporated in 2007 and listed on the Tehran Stock Exchange under the ticker 'Bepas' (بپاس). The company operates under Central Bank of Iran license No. 34605 covering all insurance lines and reinsurance acceptance license No. 25598, allowing it to act as both a direct insurer and a domestic reinsurer from a single corporate structure. It is part of the Pasargad Financial Group, with Bank Pasargad (19.91% stake) and Pars Hefazat Development Management (18.26% stake) as anchor shareholders.

The company's product portfolio spans life insurance (including the investment-linked 'Zendegi Zarrin' or Golden Life product that allows policyholders to allocate reserves across bank deposits, capital markets, and gold), term life and accident, supplementary group health, automobile (mandatory third-party, driver accident, and body coverage), fire and property, cargo and marine, engineering and energy, and professional and public liability. A 2026 first-mover launch added professional liability insurance for cybersecurity companies. Distribution is conducted through 15 regional management zones across Iran, a network of branches, 39+ agency companies, and 1,149+ registered brokers, supplemented by digital self-service portals.

Revenue is generated primarily through insurance premiums across multiple lines, with a secondary stream of investment income on mathematical reserves (اندوخته ریاضی) from life insurance policies, a portion of which is shared with policyholders as profit participation (مشارکت در منافع). The company targets 13% of Iran's insurance market share and currently holds the #1 rank in life insurance sales in the Iranian market. Operational scale includes 1,001-5,000 employees, 19,643 shareholders, and a 103.5 billion share capital base. No specific revenue figure is disclosed in the source material.

Name

Pasargad Insurance Company

Legal name

Pasargad Insurance Company (شرکت بیمه پاسارگاد)

Website

https://pasargadinsurance.ir

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Pasargad Insurance Company is an Iranian publicly listed multi-line insurer offering life, health, auto, property, liability, engineering, and reinsurance products to individuals, employers, vehicle owners, and professionals through 15 regional zones, 1,149+ brokers, and digital portals.

Ownership category

akta.pro rank

Product category

Insurance Services

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Direct Property and Casualty Insurance Carriers (524126), Direct Life Insurance Carriers (524113), Insurance Carriers and Related Activities (524)

SIC

Life Insurance (6311), Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Insurance Carriers, Nec (6399)

akta.pro primary industry

Universal Life (UL) Insurance (FSAIABAB)

akta.pro secondary industries

Variable Universal Life (VUL) Insurance (FSAIABAD), Public Liability (Premises/Operations) (FSAJADAD), General Liability Reinsurance (FSAOABAD), Reinsurance Solutions for Group Benefits (Group Life, Group Disability, Supplemental Health) (FSAOAAAH)

Keywords

• Life insurance services
• Property insurance
• Liability insurance
• Reinsurance services
• Group health insurance

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Insurance Premium Revenue: Pasargad Insurance generates revenue primarily through insurance premiums collected across multiple lines of business including life insurance (عمر و تأمین آتیه), property insurance (اموال), liability insurance (مسئولیت), automobile insurance (اتومبیل), health insurance (درمان), and reinsurance (اتکایی). The company also earns investment income on mathematical reserves (اندوخته ریاضی) accumulated from life insurance policies, part of which is shared with policyholders as مشارکت در منافع.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Pasargad Insurance Company provides a comprehensive portfolio of insurance products and reinsurance across three main lines: life/person insurance (life and future provision, term life and accident, supplementary health, travel health), property insurance (automobile, fire, cargo/marine, engineering and energy, miscellaneous risks), and liability insurance (employer liability, public liability, professional liability). The company also accepts reinsurance from domestic insurers under its reinsurance license. Products are offered to both individual consumers and organizations, with both direct and digital distribution channels.

Product overview

Pasargad Insurance Company offers a comprehensive portfolio of insurance products across three main categories: Life/Person Insurance (including life insurance, term life, accident, and health insurance), Property Insurance (including automobile, fire, cargo, and engineering insurance), and Liability Insurance (including employer liability, public liability, and professional liability). The company provides both individual and group policies, with digital service portals for policy management and claims. The flagship life insurance product includes investment-linked options allowing policyholders to allocate reserves across bank deposits, capital market, or gold market instruments. The company operates through a network of branches, agencies, brokers, and regional offices across Iran.

Differentiator

Problem solved

Functional benefit

Brands

• Zendegi Zarrin (زندگی زرین): Life insurance product with investment options including gold market investment capability
• Bimeh Omr va Tamin Aati (بیمه عمر و تأمین آتیه)

Products and services

• Life Insurance and Future Provision (بیمه عمر و تأمین آتیه)
• Zendegi Zarrin – Golden Life (زندگی زرین)
• Term Life and Accident Insurance (بیمه عمر زمانی و حوادث)
• Health/Medical Insurance (بیمه درمان)
• Automobile Insurance (بیمه اتومبیل)
• Fire Insurance (بیمه آتش‌سوزی)
• Cargo/Marine Insurance (بیمه باربری)
• Engineering, Energy and Other Insurance (بیمه مهندسی، انرژی و سایر بیمه‌ها)
• General Public Liability Insurance (بیمه مسئولیت مدنی عمومی)
• Professional Liability Insurance (بیمه مسئولیت مدنی حرفه‌ای)
• Miscellaneous Risks Insurance (بیمه ریسک‌های متنوع)

Quantifiable outcome

• Ranked #1 in life insurance sales in Iran's insurance industry
• +1 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and supporting.

• Iranian Reinsurance Company (بیمه اتکایی ایرانیان)coreTechnology or IntegrationListed as part of the Pasargad Financial Group ecosystem. Provides reinsurance capacity and risk-sharing for Pasargad Insurance's large and complex risks.
• Central Bank of Iran / Central Insurance (بیمه مرکزی)coreOthersRegulatory authority that issued Pasargad Insurance its operating license (No. 34605) and reinsurance acceptance license (No. 25598). Oversees the company's solvency and financial strength compliance.
• Pasargad Payment Electronics (شرکت پرداخت الکترونیک پاسارگاد / PEP)supportingTechnology or IntegrationPart of the Pasargad Financial Group, providing electronic payment infrastructure that facilitates premium collection and claims payment for the insurance company.
• Fanap (فناپ) - Pasargad ICT CompanysupportingTechnology or IntegrationPart of the Pasargad Financial Group, providing information technology and communication services supporting the insurance company's digital infrastructure.
• Khadamat Iran (کمک رسان ایران / SOS)coreTechnology or IntegrationInternational assistance services provider partnered with Pasargad Insurance for travel health insurance. Coordinates emergency medical services, repatriation, and travel assistance for policyholders abroad.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Asia Insurance Company: One of Iran's large multi-line private insurers, offering life and non-life products through nationwide branches and agencies. Closely comparable to Pasargad in product mix, distribution model, and target customer segments.
• Saman Insurance: Private Iranian insurer offering life, health, motor, and property products. Direct peer given similar multi-line product portfolio and reliance on broker/agency distribution.
• Dana Insurance Company: Iranian private multi-line insurer competing in life, motor, fire, and liability segments. Direct peer given overlapping product set and broker-driven distribution.
• Karafarin Insurance: Private Iranian insurer that has grown rapidly through bank and broker channels. Direct competitor in life and P&C lines, targeting the same private-sector and individual customers as Pasargad.
• Mellat Insurance: Bank Mellat-affiliated Iranian insurer. Direct competitor leveraging a bank-distribution model similar to Pasargad's Bank Pasargad relationship, with comparable multi-line offerings.
• Parsian Insurance: Major Iranian private insurer affiliated with Parsian Bank. Competes directly with Pasargad in life, health, motor, and corporate lines, with a comparable bank-distribution moat.
• Iran Insurance Company (Bimeh Iran): State-owned incumbent and the largest insurer in Iran. Direct competitor across all lines Pasargad writes (life, motor, fire, health, liability), with broader market share and government-channel advantages.
• Alborz Insurance Company: Established Iranian multi-line insurer with nationwide branch and agency network. Direct competitor in life, motor, property, and liability insurance, with comparable scale and product range.

Regional players

• Moallem Insurance Company: Iranian insurer historically focused on the education sector but expanding into broader lines. Comparable to Pasargad in multi-line offerings while serving a more concentrated institutional segment.

Broad incumbents

• Iranian Reinsurance Company (Iran Re): State-affiliated national reinsurer that is both a partner and an indirect competitor. Relevant comparable because Pasargad's reinsurance acceptance license puts it in the same value chain, while Iran Re sets treaty terms that shape Pasargad's economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/bimehpasargadlahidjan
• LinkedInlinkedin.com/company/pasargad-insurance-co

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pasargad Insurance Company