Companies must be managed by managers who can increase the value of the company; However, some companies do not seem to strictly comply with these requirements, which may explain the inexperience of some companies. Executives make inappropriate structural capital decisions that make capital structure decisions inefficient. Corporate executives are a vital resource for success because of the significant impact that senior executives have on corporate decisions and strategic outcomes. Therefore, the purpose of this study is to investigate the effect of management education on the maintenance of cash and surplus value of cash of insurance companies in the Tehran Stock Exchange during the years 1393 to 1397 with a sample of 15 companies. To test the hypothesis, multivariate linear regression and hybrid data were used using the generalized least squares model. The results of testing the first hypothesis showed that the education of managers has a significant effect on the cash surplus value of insurance companies. Also in other results of the research hypothesis test showed that the education of managers has a significant effect on cash holdings of insurance companies.