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Iran's Central Insurance Company outlines main objectives

Business Materials 17 March 2020 16:00 (UTC +04:00)

BAKU, Azerbaijan, March 17

By Elnur Baghishov - Trend

The Central Insurance Company of Iran intends to bring the share of the private (non-state) sector to 68.2 percent in the Iranian insurance market during next Iranian year (from March 21, 2020 through March 21, 2021), Director General of the company Gholamreza Soleymani told Trend.

According to Soleymani, in addition, work will be done to increase the insurance ratio by 3 percent.

Soleymani added that Central Insurance Company wants to increase the share of voluntary insurance to 61.5 percent in the insurance market portfolio.

Furthermore, the company will seek to increase the share of life insurance in the insurance market from 14.3 percent to 18.8 percent, the director general noted.

“Iran's Central Insurance Company also plans to increase per capita insurance premiums by 20 percent next year,” he said.

There are about 30 insurance companies in Iran. The share of Iran's private (non-state) sector in insurance during 10 months of the current Iranian year (from March 21, 2019 through January 20, 2020) was 68.6 percent.

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