EghtesadOnline: The life insurance portfolio of insurers and its potentials have improved, in light of the number of people currently benefiting from its coverage, the head of the Central Insurance of Iran, the insurance industry’s sole regulator, said on Tuesday.

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: Following the policy of promoting life insurance, the president of Central Insurance of Iran announced that the High Council of Insurance has issued the license for the establishment of another specialized life insurance company.

EghtesadOnline: In addition to the latest directive issued by the High Council of Insurance, which allowed general insurance companies to subsequently become specialized life insurance firms, the head of the Central Insurance of Iran company announced that “special loans” have been considered for the to-be specialized life insurers.

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: Iranian insurance companies have registered an 18% growth in life insurance premium incomes in the first quarter of the current Iranian year (March 21-June 21), the head of Central Insurance of Iran company announced.