07 August 2013
Cooperative Insurance Company is the first firm established in the form of a public joint stock cooperative in line with the general policies of Article 44 of Iran's Constitution, which seeks large-scale privatization, and promotion of cooperative sector, said managing director of the company.
Akbar Najafi also told IRNA that a majority of the shares of Cooperative Insurance Company belong to companies and associations affiliated to the cooperatives sector.
"Cooperative Insurance Company, like all commercial insurance companies, is to conduct insurance activities in the fields of life insurance and other types of insurance services under the supervision of the Central Insurance of Iran," he said.
Najafi explained that the major goal of Cooperative Insurance Company is to address insurance needs and render services in the cooperatives sector.
"Central Insurance of Iran issued an operating license for Cooperative Insurance Company in July 11, 2013," he said.
Since the cooperatives have been established with public assets, they need more financial and legal support compared to other sectors in order to materialize their goals.
Cooperative Insurance Company is the first firm established in the form of a public joint stock cooperative in line with the general policies of Article 44 of Iran's Constitution, which seeks large-scale privatization, and promotion of cooperative sector, said managing director of the company.
Akbar Najafi also told IRNA that a majority of the shares of Cooperative Insurance Company belong to companies and associations affiliated to the cooperatives sector.
"Cooperative Insurance Company, like all commercial insurance companies, is to conduct insurance activities in the fields of life insurance and other types of insurance services under the supervision of the Central Insurance of Iran," he said.
Najafi explained that the major goal of Cooperative Insurance Company is to address insurance needs and render services in the cooperatives sector.
"Central Insurance of Iran issued an operating license for Cooperative Insurance Company in July 11, 2013," he said.
Since the cooperatives have been established with public assets, they need more financial and legal support compared to other sectors in order to materialize their goals.
© Iran Daily 2013
