Insurance Co. (Equivalent of 45.5 million shares of the company), first time after listing, was offered to the public (IPOed) by the Iranian government on Tehran Stock Exchange at the price of IRR 1486 ($ 0.148) per share with the total value of IRR 676 Billion ($6.7 million).
At the time being the paid up capital of Asia Insurance Co. is IRR 455 billion (Equivalent $45.5 million). The earning per share of Asia Insurance Co. for last fiscal year was IRR 293 and it is predicted to slip to IRR 192 for the current fiscal year.
Bimeh Asia (Asia Insurance Co.) was established in 1959. The company was registered with the Companies Registration Department under number 6795 in the same year. In accordance with an act of the Islamic Revolutionary Council and the Nationalization of Insurance Institutes bill, Bimeh Asia was nationalized in 1980.
The company’s activities include insurance and reinsurance in all fields. It is noteworthy that Bimeh Asia is authorized to perform any legal activities beneficial to the company’s objectives, including establishment of subsidiary companies and purchasing shares of other companies. The company has expanded its activity throughout Iran during past years.
Presently Bimeh Asia has 83 branches and more than 1500 agencies supervised by 13 area managers in more than 380 Iranian cities.
Asia Insurance Co. Web Site Address: http://www.bimehasia.com/asiainsurance/En/Default.asp