BAKU, Azerbaijan, March 18
By Elnur Baghishov - Trend
Premium growth has increased by 39.1 percent in Iran's insurance sector during 10 months of the current Iranian year (March 21, 2019 - January 20, 2020) compared to the same period last year, Director General of the Central Insurance Company Gholamreza Soleymani told Trend.
According to Soleymani, the premium growth was about 472 trillion rials (about $11.2 billion).
Soleymani added that premium growth was 68.6 percent in private (non-state) sector.
The official said that about 58.5 million pieces of insurance was issued during 10 months. This is an increase of 3.6 percent compared to the same period last year.
"About 32.6 percent of premium growth are allocated to third party insurance and 25.2 percent of premium growth is related to medical insurance," he said.
Soleymani said that about 14.3 percent of the portfolio of premium growth is life insurance.
The following table shows the 10-month activity of the Iranian insurance sector.
|
Name |
Quantity |
With US dollar |
Percentage of change compared to the same period last year |
|
Premium growth |
472 billion |
11,2 billion |
39.1 |
|
Number of insurance issued |
58.5 million |
- |
3.6 |
|
Number of compensation payments for injuries |
20.6 million |
- |
4.7 |
|
Compensation to injury |
5.5 percent |
- |
-1.4 |
|
Private(non-state) sector |
68.6 percent of premium growth |
- |
67.6 percent of injuries |
|
The main share of the premium growth portfolio |
32.6 percent third party insurance |
25.2 percent- treatment |
|
|
The main share of the premium growth portfolio |
14.3 percent life insurance |