TEHRAN- "From the beginning of its formation in 1957 up to now (2003), Alborz Insurance Company increased its capital from Rls.750m to Rls.260bn," said the managing director of Alborz Insurance Company, Mohammad Assoudeh.

Announcing the above in an interview with our reporter, the managing director of Alborz Insurance Company said that some Rls.550bn insurance policies were vended by the company last year, showed 76 percent growth as compared to the corresponding figure of last year.

In addition to direct sales of insurance policies to the public, his company has sold some Rls.110bn worth of insurance to other insurance companies, showed remarkable growth in comparison with the figure of last year, he said.

He pointed to Rls.34bn profit of the company and said that Rls.500bn insurance policies were sold by the company in the seven months of the current Iranian calendar year of 1382 (started March 21), showed 98.5 percent growth as compared to the corresponding figure of last year. Of the other achievements of the company, he pointed to increase in number of agencies, fast payment of indemnities, etc. and said that for any inquiries fellow countrymen may log on to the home page of the company at: www.alborzinsurance.ir In the end, he pointed to sales of the company's insurance policies through the Internet site and said: "Two insurance companies established by the company in free zones last year to boost company's volume of activity."