EghtesadOnline: Ratings agency Capital Intelligence Ratings (CI Ratings) says in a recent report on Iran’s insurance industry that growth in premiums has looked strong in the nominal view in recent years, but less so in an inflation-adjusted perspective, as real growth was achieved only in two recent years (FYE 2015 and FYE 2017).
EghtesadOnline: Iran is determined to sideline the US dollar in its financial dealings for the past few years and the country’s insurance industry is no exemption, as it has emphasized a shift toward euro both on the local and international scale.
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.
EghtesadOnline: Iran’s insurance industry has so far paid out about 1.1 trillion rials ($24.55 million) in claims resulting from the 7.2 magnitude earthquake that shook the western province of Kermanshah and killed more than 500 people several months ago, the head of the Central Insurance of Iran said.
EghtesadOnline: Data from the Central Insurance of Iran indicate that the country’s insurance industry has been boosting its profits and reducing its loss ratio for the past 10 years when it comes to covering ships and marine transportation.
EghtesadOnline: Cooperation between the insurance industry and capital market could help control the volume of liquidity, whose rise has triggered concerns in recent years, the head of the Central Insurance of Iran said.
EghtesadOnline: Lawmakers have forced the insurance industry to pay millions of dollars more in taxes to the government in a move that has irked the head of Central Insurance of Iran, the entity in charge of regulating the industry.
EghtesadOnline: The Iranian insurance industry issued 42.7 million insurance policies in the first nine months of the current fiscal year to Dec. 21, 2017, which indicate an increase of 20%, the head of the Central Insurance of Iran, the industry’s regulator, announced.
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: After Iran’s nuclear deal, the insurance industry’s international dealings have significantly increased, as Italian and German firms are keen on buying the shares of state-owned Iran Insurance Company, the president of Central Insurance of Iran said.