Middle East Life Insurance | بیمه زندگی خاورمیانه

What Middle East Life Insurance | بیمه زندگی خاورمیانه does

Middle East Life Insurance (بیمه زندگی خاورمیانه), operating under the brand "Melico" (ملیکو), is Iran's first specialized life insurance company, publicly listed on the Farabourse OTC market under ticker بخاور. It was officially licensed on 17 Bahman 1395 (February 2017) by Central Insurance of Iran under license No. 95/100/64031, with an initial registered capital of 1,200 billion Rials, and holds the highest financial solvency rating (Level 1) in the Iranian market.

The company underwrites and distributes a portfolio of more than a dozen life, retirement, and investment-linked insurance products — including term life, whole life, mortgage life, immediate and deferred annuities, UL-Gold and UL-Silver unit-linked plans, and Counter / Counter Plus annuities — serving Iranian individuals from birth to age 80 across use cases such as family protection, retirement income, mortgage debt coverage, education funding, and inflation-protected savings. Its technology footprint comprises web-based portals for policyholders, agents, and shareholders, a dedicated online payment portal, a developer documentation site, and a mobile application. An electronic wallet feature allows policyholders to deposit into and withdraw from policy reserves online.

Melico generates revenue primarily through recurring and single-premium life insurance collections that accumulate as policy reserves, with secondary income from investment returns on those reserves, partially distributed to policyholders as participation profits (declared at 34% for fiscal year 1403). Distribution is hybrid: an authorized agent/representative network supported by coordination and training offices, alongside digital self-serve channels including the fully online Counter Annuity purchase flow. Major founding shareholders include Middle East Bank and Industrial Development Investment Company of Iran, both publicly listed entities, alongside several private-sector founding investors.

Name

Middle East Life Insurance | بیمه زندگی خاورمیانه

Legal name

شرکت بیمه زندگی خاورمیانه (Bime Zendegi Khavarmiyaneh Life Insurance Company)

Website

https://melico.ir

Company type

Public

Operating status

Operating

Headcount range

11–50 employees

Short description

Middle East Life Insurance (Melico) is Iran's first specialized life insurer, offering term, whole-life, annuity, and unit-linked products to individual consumers via a nationwide agent network and online portals, publicly listed on Farabourse with a Level 1 solvency rating.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Insurance Carriers (5241)

SIC

Life Insurance (6311)

akta.pro primary industry

Participating (Dividend) Whole Life Insurance (FSAIABAI)

akta.pro secondary industries

Whole Life Insurance (FSAIABAA), Immediate Income Annuities (SPIA) (FSAIACAE)

Keywords

• Life insurance products
• Annuity plans
• Term life coverage
• Investment-linked insurance
• Mortgage life insurance

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Life Insurance Premiums: The company generates revenue primarily through life insurance premium collections from various life insurance products including term life, whole life, investment-linked plans, and annuity products. Premiums are collected on recurring basis (annual, monthly, or single premium payment modes) and accumulate as policy reserves.
2. Investment Returns on Policy Reserves: The company manages policyholder reserves and generates investment income which is partially passed back to policyholders as participation profits (سود مشارکت در منافع). The company declared 34% participation profit rate for fiscal year 1403.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Middle East Life Insurance (Melico) operates as Iran's first specialized life insurance company, offering a portfolio of life insurance and retirement products including term life, whole life, mortgage life, immediate and deferred annuities, and unit-linked investment plans (gold, silver, Meta Life, Mana Life). The company collects recurring or single premiums, accumulates policyholder reserves, invests those reserves to generate participation profits, and pays out death benefits, survival benefits, and annuities. Products are distributed through an authorized agent network and online portals serving Iranian individual consumers.

Product overview

بیمه زندگی خاورمیانه (Melico) operates as a specialized life insurance company offering a broad portfolio of life and retirement insurance products. The portfolio spans traditional term and whole-life insurance, endowment/investment-linked products (gold and silver tier unit-linked plans), immediate and deferred annuity products, and specialized covers such as mortgage life and employer/employee annuity plans. The company also offers an electronic wallet for policyholders (deposit/withdrawal from policy reserves) via its online portals, and a network of sales agents and coordination offices. The company positions itself as Iran's first specialized life insurer, with financial solvency Level 1 (highest) rating from the Central Insurance of Iran.

Differentiator

Problem solved

Functional benefit

Products and services

• Supplementary Retirement and Annuity Plan (بیمه زندگی و بازنشستگی تکمیلی)

Quantifiable outcome

• 34% participation profit rate for policyholders in 1403
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Central Insurance of Iran (بیمه مرکزی ج.ا.ا)coreOthersRegulatory body that issued the company's operating license (No. 64031/100/95) and provides ongoing supervision of the insurance operations.

Scale indicators5 records

Recent moves8 records

Expansion highlights4 records

Market position

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeaparat.com/melico_family
• Instagraminstagram.com/melico_family
• LinkedInlinkedin.com/company/middle-east-life-insurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 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 Middle East Life Insurance | بیمه زندگی خاورمیانه