CI Outlines Iran’s Insurance Prospects

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).

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Publish Date:30/June/2018 | 24:02

Iran Insurance Premiums Up 21% in 2017-18

EghtesadOnline: Iran’s insurance companies absorbed 335.9 trillion rials ($7.96 billion) in premiums during the previous fiscal year that ended on March 20, 2018, up by 21.1% when compared with the year before, the head of Central Insurance of Iran said.

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Publish Date:10/June/2018 | 05:22

Alborz Insurance Company’s Controlling Stake Sold

EghtesadOnline: The government successfully sold its shares in Alborz Insurance Company on Saturday to a consortium made up of pension funds and an investment company.

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Publish Date:13/March/2018 | 09:55

Mandatory Insurance Tax Irks Industry Chief

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.

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Publish Date:07/February/2018 | 06:59

Insurance Policies Up 20%

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.

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Publish Date:31/January/2018 | 07:34

Iran Government Approves Major Insurance Divestiture

EghtesadOnline: The Cabinet of President Hassan Rouhani’s administration approved a measure based on which the government will sell its remaining shares in three major insurance companies which–barring Iran Insurance Company–are the only firms in which the government still holds a stake.

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Publish Date:14/January/2018 | 11:40

High Growth in Insurance Claims in Iran

EghtesadOnline: Iranian insurance companies have paid out over 35 million claims during the previous fiscal to March 20, 2017, which indicates a growth of 10 million compared to its previous year.

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Publish Date:14/January/2018 | 10:55

Buy Insurance Policy Online

EghtesadOnline: A local startup has launched a platform dubbed ‘Bitmeh’ allowing people to buy insurance policy online.

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Publish Date:07/January/2018 | 10:46

Privatization of Insurance Companies is a Must

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.

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Publish Date:13/December/2017 | 13:10

Life Insurance in Iran Underdeveloped

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.

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Publish Date:25/November/2017 | 09:46

Insurers Assessing Iran Quake Losses

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.

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Publish Date:20/November/2017 | 07:02

Iran Insurance Growth at 20%

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.

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Publish Date:23/October/2017 | 09:56

Iran’s Risk Coverage Potential at $3 Trillion

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.

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Publish Date:15/October/2017 | 10:47

Insurance Firms Owe $1b to Pharma

EghtesadOnline: The outstanding debts owed to pharmaceutical companies by insurance firms have tipped this sector into recession, the chairman of Majlis Health Commission said.

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Publish Date:07/October/2017 | 07:27

Iran, SCOR SE Reach Reinsurance Agreement

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.

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Publish Date:03/October/2017 | 11:33

Push for Specialized Life Insurance Companies

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.

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Publish Date:20/September/2017 | 09:26

Iran Gov't Divesting Reinsurance Stake

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.

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Publish Date:13/September/2017 | 24:08

Iran Gov't to Divest Shares in 3 Insurance Firms

EghtesadOnline: I n line with the general policies of Article 44 of Iran’s Constitution—declared 11 years ago by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei—the remaining state shares in Alborz, Dana and Asia insurance firms are expected to be soon divested, announced the president of the Central Insurance of Iran announced.”

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Publish Date:02/September/2017 | 13:40

Iran's Insurance Premium Income Tops $2b

EghtesadOnline: The insurance industry has managed to earn 88.5 trillion rials ($2.3 billion) from premiums during the first four months of the current Iranian year (started March 21).

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Publish Date:30/August/2017 | 14:03

CI Ratings: Outlook for Two Iranian Insurance Firms Positive

EghtesadOnline: Capital Intelligence Ratings, the international credit rating agency, has released its ratings for two Iranian private insurance firms, revising one insurer’s outlook to “positive” and giving a first-time rating to another.

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Publish Date:30/August/2017 | 14:02