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EghtesadOnline: The Central Insurance of Iran said that according to latest reports, the insurance industry has registered a 22% growth in premium in the 11 months to February 19 compared with the same period of last year.

According to Abdolnasser Hemmati, the CII chief, the figure is indicative of strong growth in the country’s insurance industry, Banker.ir reported. The head of CII, which is the industry regulator, added that strong real growth in the number of insurance policies is also another sign that the industry is picking up steam in the country. Hemmati also advised insurance firms not to invest in projects that are not economically viable.  As of 2016, the value of Iranian insurance market was at $8.29 billion and its share of global insurance market is a meager 0.18%, ranking Iran 42nd in terms of insurance, according to Financial Tribune.

 

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