Mellat Insurance
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.
- Company typePublic
- Founded2003
- HeadquartersTehran, Iran
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
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.
Mellat Insurance firmographics
Firmographics- 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
Mellat Insurance industry classification
Industry- 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
Where Mellat Insurance is headquartered
LocationHeadquarters
- HQ city
- Tehran
- HQ country
- Iran
- HQ region
- Middle East
Offices1 record
Markets served
Mellat Insurance business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
Revenue model
- 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
- 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
- Credit Card Services: Issuance and management of credit cards linked to insurance policies for installment payments on insurance premiums
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Insurance products sold on subscription basis with premiums calculated per policy |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
Mellat Insurance product offering
Product offeringCore 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
Companies that use Mellat Insurance
Customer profileNamed customers10 records
Segments3 records
Mellat Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Mellat Insurance partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core, moderate and minor.
- Central Insurance of Iran (بیمه مرکزی)coreRegulatory 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 CompaniescoreActive 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 ExchangecoreListed 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 OrganizationmoderateConsumer Rights Certificate holder, demonstrating commitment to consumer protection and service quality standards.
- SOS International Medical AssistanceminorAssociated medical assistance centers for emergency services and roadside assistance (SOS) integrated with automobile insurance products.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
Mellat Insurance competitors and assessment
Company assessmentDirect 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
Mellat Insurance social profiles
Digital presenceMellat Insurance compliance and trust
Trust signalCompliance4 records
Mellat Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mellat Insurance leadership team
Management profileNumber of profiles
Mellat Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mellat Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mellat Insurance
What does Mellat Insurance do?
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.
Is Mellat Insurance a public or private company?
Mellat Insurance is a public company. It is classified as public and is currently operating.
When was Mellat Insurance founded?
Mellat Insurance was founded in 2003. It employs 251 to 500 people.
Where is Mellat Insurance based?
Mellat Insurance is headquartered in Tehran, Iran, in the Middle East region.
How does Mellat Insurance make money?
Three revenue lines are on record. Direct Insurance Premiums are the primary driver. The others are reinsurance Operations and credit Card Services.
Who are Mellat Insurance's main competitors?
Direct peers on record are Iran Insurance Company, Karafarin Insurance, Novin Insurance, Saman Insurance, Asia Insurance, Parsian Insurance, Dana Insurance, Pasargad Insurance and Alborz Insurance. Central Insurance of Iran is listed as a broad incumbent.
Does Mellat Insurance have an API?
No public API is recorded for Mellat Insurance.
What industry is Mellat Insurance in?
Mellat Insurance's product category is Insurance Services. Its primary akta.pro industry code is TLABANAA, Commercial Auto & Fleet Liability Insurance (Primary), with a secondary code of FSAJAFAB, Mid-Market Commercial Package (Package Policies). Its NAICS code is 5241 and its SIC code is 6331.