Ranking insurance firms plays an important role on choosing the most appropriate company for receiving appropriate services especially long term insurances such as life insurances. The proposed model of this paper uses two well-known methods of CAMELS and RBC to rank 18 active private and governmental insurance firms in Iran over the period of 2009-2011. The results of Spearman test imply that there is no meaningful difference between these two methods for year 2010 and year 2011 and according to Freedman test, there is not meaningful difference between these two methods in any three years of 2009, 2010 and 2011. In summary, we can conclude that the results of both methods could be used in practice.