Novin Insurance (public joint) is issued in 2005 after achieving insurance license from Iran Central Insurance, and registered in January 2006. The total capital is 140 billion Rials (divided to 140 million 1000 Rials shares) which is completely paid at the time of establishment. 67% of Equity belongs to 18 Establishing companies and 33% belongs to other investors who attended public issuance. This company started its insurance operations in March 2006 as the 18th insurance company in Iran after the issue of Iran Central Insurance’s final license.