EghtesadOnline: Iran’s insurance companies generated about 110 trillion rials ($2.5 billion) in premiums during the first four months of the current fiscal year that ended on July 22, up by 23.4% compared with the same period of last year, the new head of Central Insurance of Iran said.
EghtesadOnline: In its latest report on Iran's insurance sector, Capital intelligence, the international ratings agency, said addressing the structural problems of Iran’s insurance market is vital for strengthening the resilience of domestic insurers.
EghtesadOnline: Capital Intelligence, the international credit rating agency, has released its key report on the Iranian insurance market, reviewing the latest development in the wake of the US unilateral move to exit the Iran nuclear agreement last month.
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: 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: In the wake of an Iranian oil tanker's collision in East China Sea, Iranian insurers are to compensate 30% of the costs while the rest would be covered by a Norwegian firm, the president of the Central Insurance of Iran announced.
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 government plans to reduce the percentage of premiums Iranian insurance firms are obligated to entrust to the Central Insurance of Iran for the purpose of reinsurance, the director of the industry’s regulator said.
EghtesadOnline: Iranian insurers annually pay $3 billion as compensation for traffic collisions which, according to the Central Insurance of Iran, is very high and considered a national loss.
EghtesadOnline: Beleaguered insurance companies have only until the end of the current fiscal year (March 20, 2018) to meet the new minimum capital requirements set by the Cabinet, announced the head of the Central Insurance of Iran.