Iran Insurance Company
Iran Insurance Company is a confirmed Tehran-based, state-owned Iranian insurer with a broad life, non-life and reinsurance offering. The principal decision consideration is its OFAC sanctions designation, alongside limited current public financial and operational disclosure.
Market position
Sources dated 2023 describe the company as holding more than 50% of Iran’s national insurance market. This figure should be treated as a dated market-share claim rather than a current measure.
Operations & footprint
Products and services
Iran Insurance Company provides life and non-life insurance, motor insurance, health insurance, property insurance, liability insurance, cargo insurance, engineering insurance, energy and oil-related insurance, marine insurance, accident insurance, and claims services through a nationwide public insurance network.
Geographic footprint
The business is primarily focused on Iran. A 2014 source reported a network of 204 branches and 7,935 agencies; current network size was not independently established in the evidence reviewed.
Ownership & group structure
Ownership
State-owned corporation of the Iranian government.
Reported scale
Employees: A 2014 source reported 4,562 employees. Scale note: Comparable recent revenue, profit and asset figures were not established from the reviewed public evidence. Historical figures reported for 2012–2014 are not used as indicators of current financial position.
Commercial and investment relevance
For investors, Iran Insurance Company matters as a national risk-infrastructure node rather than a direct equity-market target. It can help map where formal insurance coverage is available for industrial assets, logistics, cargo movement, energy facilities, construction projects, vehicles, and liability exposure. Its state-linked role also makes it relevant for public-sector contracts, project-risk allocation, claims reliability, and the practical insurability of assets under sanctions, inflation, and regulatory constraints. The company underwrites a broad range of personal and commercial risks, including cargo, engineering, marine, property, liability and energy-related exposures. It is therefore relevant to insurance arrangements connected with domestic operations, transport and project activity in Iran.
Constraints, risk & compliance
Key risks and constraints
Counterparty assessment is constrained by limited current public financial disclosure in accessible English-language sources. Policy availability, reinsurance support, claims performance and contract enforceability should be assessed case by case.
Sanctions and compliance considerations
Iran Insurance Company is listed by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). Parties considering a transaction should obtain qualified sanctions and legal advice and assess all applicable jurisdictions before engagement.
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Frequently asked questions
Direct answers to the questions most likely to arise when reviewing this profile.
What does Iran Insurance Company do?
Iran Insurance Company provides life, non-life and reinsurance products, including motor, health, property, cargo, engineering, marine, liability, travel and energy-related insurance.
Is Iran Insurance Company state-owned?
Yes. The reviewed evidence identifies Iran Insurance Company as a state-owned corporation of the Iranian government.
Is Iran Insurance Company sanctioned?
Yes. The company is listed by the U.S. Department of the Treasury’s Office of Foreign Assets Control. Any proposed engagement requires jurisdiction-specific sanctions and legal review.
Where is Iran Insurance Company headquartered?
Iran Insurance Company is headquartered in Tehran, Iran.