Insurance firm MA signs investment deal with Damavand Capital

By bne Tehran bureau November 10, 2024

Iran's MA Insurance and Damavand Capital Supply unveiled a cooperation agreement on the second day of Iran's 16th Investment Opportunities Exhibition and 11th International Exhibition of Exchange, Banking, Insurance and Privatisation on November 10.

The partnership, announced in the presence of MA Insurance's CEO and board members alongside senior Damavand Capital executives, aims to combat inflation and protect policyholders' assets through diversified financial market investments.

Under the agreement, MA Insurance will be able to invest life and pension insurance premiums across various financial markets through Damavand Capital, which operates with IRR7,000bn in capital.

Damavand Capital holds the distinction of being the first capital supply company registered as a public joint stock company from inception, following authorisation from Iran's Supreme Council of the Stock Exchange.

The firm has achieved a strong market position in financial services and investment through its extensive presence in the capital market.

The collaboration represents one of MA Insurance's newest and most practical initiatives designed to preserve and enhance policyholder value amid economic challenges.

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