EghtesadOnline: Iran's biggest annual insurance event played host to two ministers on Monday, one of whom vowed that he will be a catalyst rather than an impediment to insurance privatization for the country to faster achieve its vast potential in the industry.
EghtesadOnline: The share of life insurance in the overall portfolio of the Iranian insurance industry is meager, a fact that a board member of Middle East Insurance Company, which specializes in life insurance, ascribes to the lack of an insurance culture in the country.
EghtesadOnline: Iranian insurance companies have started evaluating the losses caused by the recent massive earthquake that shook the western Kermanshah Province near the Iraqi border and processing payment of compensations.
EghtesadOnline: The collective figure of Iranian insurance companies’ premiums during the first half of the current fiscal year to Sept. 22 has reached 166 trillion rials ($4.15 billion), which indicates an increase of 20% compared with the corresponding period of last year.
EghtesadOnline: Iran has a risk potential of over $3 trillion that can be covered by insurance, the Central Insurance of Iran’s vice president announced.
EghtesadOnline: The president of the Central Insurance of Iran elaborated on the four-year outlook of Iran’s insurance industry through the end of President Hassan Rouhani’s second and final term in office.
EghtesadOnline: The outstanding debts owed to pharmaceutical companies by insurance firms have tipped this sector into recession, the chairman of Majlis Health Commission said.
EghtesadOnline: The Central Insurance of Iran, the industry’s regulating body and its largest reinsurer, announced on Thursday it has reached a much-anticipated agreement with France’s SCOR SE, based on which the major reinsurer will cover catastrophe excess of loss reinsurance for Iran.
EghtesadOnline: In line with the goals devised in the Sixth Five-Year Development Plan (2017-22) to expand the share of life insurance in the industry’s portfolio, the High Council of Insurance has amended regulations, allowing general insurance companies to establish specialized life insurance firms.
EghtesadOnline: In what would mark a big stride toward the development of Iran's insurance industry and the promotion of its privatization initiative, the government is to relinquish its remaining stake in Amin Reinsurance, a major company domiciled in the Free Trade Zone of Kish Island.