Iran’s state-run insurance firm sees hike in issued polices
Baku, Azerbaijan, May 8
By Khalid Kazimov – Trend:
The number of policies issued by the state-run Iran Insurance Company over the last fiscal year (ended March 20) increased by 17 percent.
The country’s sole state-run insurance firm issued 22.7 million polices over the mentioned period, Eghtestadonline news website reported May 8.
According to the report, the insurance firm took a 38.85 percent share of the country’s insurance market in terms of the number of issued policies.
In the meantime, Iran Insurance Company accounted for the 43.6 percent of losses paid in the country’s insurance market.
Iran’s insurance industry grew by 22 percent over the last year, with insurance penetration rate improving by 0.4 percent to reach 2.1 percent.