TEHRAN, Iran, May. 16
Trend:
The CEO of Razi Insurance Company of Iran announced the increase of the company's capital by 600 percent.
The Razi Insurance has received a 600 percent capital increase license from the Securities and Exchange Organization of Iran and Central Insurance Organization, Ali Jabbari said Trend reports citing Fars News Agency.
“Razi Insurance Company is one of the top three insurance companies in Iran with a registered capital of over $523 million,” he said.
Jabbari said that the main goal has been to increase the capital to over $714 million.
Razi Insurance CEO added that reaching the company's new roadmap, goals and strategies need to improve the financial wealth.
Jabbari said that Razi Insurance Co's wealth ratio will increase from 102 percent to over 500 percent with this capital increase.
“According to the plan, Razi Insurance Company should be among the top five companies in terms of capital,” he noted.