The term "working capital" refers to the organization's investment in current assets, current liabilities, cash, short-term securities, accounts receivable and inventory. And the management of working capital is to determine the volume and composition of resources and expenditures on working capital so that shareholders' wealth grows. The purpose of this study was to investigate the effect of financial leverage on the management of capital employed in insurance companies of Tehran Stock Exchange. For this purpose, the information of 16 insurance companies of Tehran Stock Exchange has been reviewed during the period from 1390 to 1396. Finally, regression models were used to examine each of the hypotheses. Based on the type of estimated estimation method used in the F Limer and Hausman tests, the research models were estimated and the estimated results for each model were analyzed. The results of the research hypothesis test indicate that financial leverage has a reverse and significant effect on the management of capital employed in insurance companies of Tehran Stock Exchange.