Bime Iran old building November 06, 1935 is regarded as a memorable date
in Iran's insurance industry. This occasion marks the establishment of
Bimeh Iran (Iran Insurance Co.), as the first-ever national Iranian
insurance enterprise and, thus, the founding of this country's national
insurance industry.
This company started issuing policies in various classes of insurance,
within just a couple of weeks of being launched, concurrent with setting
up its agencies in Mashad, Shiraz, Isfahan, Hamedan, Ahvaz and Bushehr
in the very first year of its professional operation. Meanwhile, the
newly formed company took up the initiative to extend grants and
scholarships to dozens of students of economics and business-related
fields, aimed at being subsequently trained in insurance, in a number of
credible European universities and other institutes of higher
education.
Absorbing more than 62 percent of the local market share in competition
with its long established foreign rivals, increasing its retention
capacity from 10% to 56% was among the immediate achievements scored and
the urgent measures adopted by Bimeh Iran (Iran Insurance Co.) during
the nuptial early years of its independent professional activities.
Furthermore, the effective role assumed by the company in introducing
and promoting the basic insurance concepts, granted it with a solid
national and international reputation and legitimacy, quite rare for a
newly emerged and pioneering insurance enterprise. These are among the
characteristic features widely believed to be associated with the proud
name and emblem of Bimeh Iran (Iran Insurance Co.), which to this
present day and despite the numerous challenges and developments have
unfolded in the local and international markets during the past seven
decades.