Iranian private insurance company hopes for 20% income surge

Business Materials 27 April 2017 13:00 (UTC +04:00)

Baku, Azerbaijan, Apr. 27

By Khalid Kazimov – Trend:

Iran’s Asia Insurance, a leading private firm, hopes that its income derived from premiums paid by customers will increase by 20 percent over the current Iranian year (starting March 20).

Asia Insurance has forecasted that the amount of total premiums collected by the company over the year would hit $1billion (33 trillion rials), Ibena (Iranian banks and economy news agency) reported.

The report also added that the company’s profit from the collected premium is expected to reach $738 million, a 20 percent surge compared to preceding year.

Asia Insurance in the first nine months of the last Iranian calendar year gained an 11-percent market share in the country, the report added.

According to Iranian sources, insurance industry’s total premium income during the 9-month period amounted to $5.24 billion, registering a 21.33 percent growth compared with the same period of last year.