Sarmad Insurance Company
Sarmad Insurance Company Public Joint Stock Company is a Tehran-based listed Iranian insurer, trading as وسرمد (IRX:VSRM). Founded in 2013, it writes life and non-life business across health, motor, property, liability, engineering and cargo lines, while also accepting reinsurance and investing insurance reserves. It is relevant to buyers seeking domestic risk-transfer capacity and to investors tracking listed insurance-sector underwriting and reserve management.
Operations & footprint
Products and services
Sarmad Insurance Company provides direct insurance in life and non-life lines, including motor, health, property, fire, liability, engineering, cargo, accident, and life insurance, together with reinsurance-related activity, claims services, branch and agency distribution, and investment of technical reserves.
Operations and assets
The company underwrites direct life and non-life policies, accepts reinsurance, and manages investment assets associated with capital, reserves and technical and legal provisions. Its delivery model includes insurance distribution and claims servicing, including supplementary-health administration.
Geographic footprint
Headquartered in Tehran, Iran.
Ownership & group structure
Ownership
Main shareholders include Bank Saderat Iran, Bank Shahr through Rasta Economic Development Group, Khwarizmi Investment Company, and Ghadir Hamyari Institute.
Reported scale
Scale note: For the first half of 2025, ending 19 March 2025, revenue was stated at IRR 32.5 trillion and premiums received at IRR 29.9 trillion; net revenue was IRR 2.75 trillion.
Commercial and investment relevance
Sarmad Insurance is relevant for investors assessing Iran's listed insurance market, risk-transfer capacity, claims inflation, commercial insurance availability, and consumer protection demand. It can support sector analysis around underwriting quality, reserve investment, agency-network strength, and exposure to inflation-sensitive claims. In practical due diligence, it should be reviewed through updated financial statements, solvency indicators, claims ratios, investment-portfolio composition, regulatory disclosures, and counterparty-risk considerations. Sarmad Insurance is a domestic risk-transfer counterparty for households and businesses requiring health, motor, property, liability, engineering or cargo cover. Its cargo and engineering lines are relevant to firms managing transport, construction and project-related exposures in Iran.
Constraints, risk & compliance
Key risks and constraints
Underwriting results depend on claims frequency and severity across health, motor, property and liability portfolios. Reserve adequacy, investment performance and reinsurance arrangements are material to the insurer’s capacity to absorb losses and support policyholder obligations.
Sanctions and compliance considerations
Its shareholder base includes Bank Saderat Iran, requiring transaction-specific counterparty, ownership and sanctions screening.
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Frequently asked questions
Direct answers to the questions most likely to arise when reviewing this profile.
What insurance products does Sarmad Insurance offer?
Sarmad Insurance offers life and investment insurance, supplementary health, third-party motor, motor body, fire, liability, engineering, cargo, personal accident, travel and special insurance.
Where is Sarmad Insurance headquartered?
Sarmad Insurance is headquartered at No. 3, Seventh Alley (Bahman Keshavarz), Vazra Street, Tehran, Iran.
Is Sarmad Insurance publicly listed?
Yes. Sarmad Insurance is a public joint-stock company trading under ticker وسرمد (IRX:VSRM).
Who are Sarmad Insurance's main shareholders?
Its main shareholders include Bank Saderat Iran, Bank Shahr through Rasta Economic Development Group, Khwarizmi Investment Company, and Ghadir Hamyari Institute.