Mellat Insurance

What Mellat Insurance does

Mellat Insurance (بیمه ملت) is an Iranian private insurance company founded in November 2003 and headquartered in Tehran, Iran. It is publicly listed on the Tehran Stock Exchange (ticker IRMELLAT1) since July 2012, with a 5% free float and ownership linkage to the Holding Bank, Insurance and Shares of Retirees Fund. The company writes both life and non-life business across automobile, fire, cargo, aviation/marine, engineering/energy, liability, and life insurance lines, alongside inward and outward reinsurance operations. It employs roughly 350-482 people across 4 branch offices and a network of more than 800 individual and corporate agencies nationwide.

The company's core technology stack is a multi-channel digital distribution platform. Mellat positions itself as the first electronic insurance company in Iran, offering four proprietary digital channels: an internet insurance portal for online policy purchase, an SMS-based service (02185333) allowing policy inquiry and accident policy purchase by national ID, a phone insurance service (85334-021) for renewals, endorsements, and installment payment without internet, and a mobile application. An advanced reinsurance management system supports risk management and knowledge-based services. Specialty product engineering includes a Comprehensive Auto Policy bundling third-party, body, and driver accident coverage, the Supplementary Diyah Fluctuation rider, and a Navid pre-issued residential fire plan with earthquake coverage.

Mellat's revenue model rests on subscription-based insurance premiums across life and non-life lines, complemented by reinsurance premiums from inward and outward treaties, and transaction fees from a credit card product tied to consumer installment plans. Go-to-market combines channel partners (800+ agencies), enterprise field sales to large corporates such as Milad Tower, Behran Oil Refinery, Bank Sepah, Railways of Iran, Mapna, Aseman Airline, and Saipa, and direct-to-consumer online sales. The customer base spans retail consumers, large corporates and government-linked entities, and import/export trading firms requiring marine cargo coverage. Reported total assets stand at approximately $348 million, total capital at $90 million, and disclosed annual revenue at $95 million against a backdrop of Level 1 financial solvency ranking.

Name

Mellat Insurance

Legal name

Mellat Insurance Company

Website

https://mellatinsurance.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Short description

Mellat Insurance (بیمه ملت) is an Iranian private insurer publicly listed on the Tehran Stock Exchange, offering life and non-life insurance plus reinsurance to retail consumers, large corporates, and government-linked entities through 800+ agencies, 4 branches, and proprietary digital channels.

Ownership category

akta.pro rank

Product category

Insurance Services

NAICS

Insurance Carriers (5241), Direct Property and Casualty Insurance Carriers (524126), Direct Life Insurance Carriers (524113), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

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

akta.pro primary industry

Commercial Auto & Fleet Liability Insurance (Primary) (TLABANAA)

akta.pro secondary industry

Mid-Market Commercial Package (Package Policies) (FSAJAFAB)

Keywords

• Life insurance
• Non-life insurance
• Reinsurance services
• Automobile insurance
• Property insurance

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Revenue model

1. Direct Insurance Premiums: Collection of insurance premiums from both life and non-life insurance lines including automobile, fire, health, accident, engineering, oil & energy, aviation, marine, cargo, liability, and life insurance products
2. Reinsurance Operations: Providing reinsurance coverage (inward and outward) to other insurance companies. Active in all lines of outward and inward reinsurance market since 2005. First and only private insurance company in Iran with foreign inward reinsurance authorization from Central Insurance of Iran since 2015
3. Credit Card Services: Issuance and management of credit cards linked to insurance policies for installment payments on insurance premiums

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Mellat Insurance provides life and non-life insurance products including automobile, fire, cargo, aviation, marine, engineering, energy, and liability insurance to individual and corporate clients. The company also offers inward and outward reinsurance services and is the first private insurance company in Iran with foreign inward reinsurance authorization since 2015. It distributes policies through 800+ agencies, 4 branch offices, and digital channels including internet, phone, SMS, and mobile insurance services.

Product overview

Mellat Insurance is a large Iranian private insurance company offering a diversified portfolio of life and non-life insurance products and services. The core product portfolio includes life insurance products (Life and Investment, Housewife Annuity, Life Deposit, Children's Education), automobile insurance (third-party, body, SOS assistance), fire insurance (residential, commercial, industrial), cargo insurance (domestic, import/export, transit), reinsurance, aviation/marine, engineering/energy, and liability insurance. The company has also developed digital service channels including SMS Insurance, Internet Insurance, Phone Insurance, and Mobile Insurance as innovation products enabling customers to purchase, manage, and renew policies through electronic channels. Specialty offerings include the Comprehensive Auto Policy (combining multiple coverages), Navid Fire Insurance Plans (pre-issued residential coverage), and the Supplementary Diyah Fluctuation Coverage (protecting against rising blood money rates).

Differentiator

Problem solved

Functional benefit

Products and services

• Life and Investment Insurance (بیمه زندگی و سرمایه‌گذاری)
• Housewife Annuity Insurance (بیمه مستمری زنان خانه‌دار)
• Life Deposit Insurance (بیمه سپرده زندگی)
• Children's Education Insurance (بیمه تحصیل فرزندان)
• Automobile Insurance (بیمه اتومبیل)
• Fire Insurance (بیمه آتش سوزی)
• Cargo Insurance (بیمه باربری)
• Reinsurance (بیمه اتکایی)
• Mellat Insurance Credit Card (کارت اعتباری بیمه ملت)
• Aviation and Marine Insurance (بیمه هواپیما و کشتی)
• Engineering and Energy Insurance (بیمه مهندسی و انرژی)
• Liability Insurance (بیمه مسئولیت)
• Comprehensive Auto Policy (بیمه‌نامه جامع اتومبیل)

Quantifiable outcome

• First electronic insurance company in Iran
• +1 more outcomes

Named customers10 records

Segments3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core, moderate and minor.

• Central Insurance of Iran (بیمه مرکزی)coreOthers · 1 January 2015Regulatory authorization for foreign inward reinsurance operations. Mellat Insurance is the first and only private insurance company in Iran authorized to participate in foreign inward reinsurance business since 2015.
• International Reinsurance CompaniescoreStrategic or Co-development PartnerActive participant in foreign inward and outward reinsurance market since 2005. Provides reinsurance coverage for major Iranian companies including Iran Air, National Oil Company, Islamic Republic of Iran Shipping Lines, and Mapna.
• Tehran Stock ExchangecoreOthersListed on Tehran Stock Exchange since July 9th 2012. Sector: Insurance and retirement pension funds. Free float share: 5%.
• Iran's National Consumers and Producers Protection OrganizationmoderateOthersConsumer Rights Certificate holder, demonstrating commitment to consumer protection and service quality standards.
• SOS International Medical AssistanceminorStrategic or Co-development PartnerAssociated medical assistance centers for emergency services and roadside assistance (SOS) integrated with automobile insurance products.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Iran Insurance Company: Iran's largest state-owned insurance company and the dominant incumbent, offering a comparable full suite of life and non-life products to individuals and corporations. Most directly comparable by product breadth, enterprise client access, and nationwide branch network.
• Karafarin Insurance: Private Iranian insurer offering diversified life and non-life products with bank-linked distribution. Comparable in product breadth and reliance on institutional sales channels.
• Novin Insurance: Private Iranian insurer with multi-line offerings and growing digital distribution. Comparable as a similarly sized private competitor targeting retail and corporate clients.
• Saman Insurance: Private Iranian insurer with a broad life and non-life portfolio and nationwide agency network. Comparable in distribution model and mid-market customer focus.
• Asia Insurance: One of Iran's largest private insurers, listed on the Tehran Stock Exchange, with a diversified life and non-life portfolio and broad agency distribution. Comparable to Mellat in scale, product mix, and listing status.
• Parsian Insurance: Major private Iranian insurer with comprehensive life, P&C, and reinsurance operations and a strong banking-linked shareholder base. Comparable in product breadth and target segments, particularly retail and SME.
• Dana Insurance: Large Iranian private insurer offering life and non-life products with extensive agency distribution. Comparable as a multi-line private competitor pursuing similar enterprise and retail segments.
• Pasargad Insurance: Fast-growing private Iranian insurer linked to a major bank, offering life and non-life products through agency and digital channels. Comparable in growth-stage positioning and digital ambitions.
• Alborz Insurance: Established Iranian insurer with a long history and broad life/non-life offering across retail and corporate clients. Comparable in product mix and historical scale, with overlapping enterprise accounts.

Broad incumbents

• Central Insurance of Iran: Industry regulator and broad incumbent that also operates as the state reinsurer and policy authority for the Iranian market. Comparable not as a direct sales competitor but as the controlling body for reinsurance authorizations and solvency rankings.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/moments
• YouTubeaparat.com/mellatinsurance
• LinkedInlinkedin.com/company/mellat-insurance
• Instagraminstagram.com/melatinsurance_official

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

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 Mellat Insurance