Iranian government finalizes the cession of Alborz Insurance

The Iranian government has finalized the sale of its shareholding in Alborz Insurance to a consortium made up of two pension funds and one investment company.

A total of 693.6 million shares have been ceded for the amount of 1 275 IRR (0.03 USD) a share, that is 17.14% of the company’s capital. The consortium, which previously detained a 33.93% stake in Alborz Insurance, now controls more than 51% of the insurer’s capital.

This pool is composed of “Civil Servants Pension Fund”, “the Agricultural, Rural and Nomadic Pension Fund” and “the Social Security Investment Company”.

More news:

• The insurance industry in Iran