Baku, Azerbaijan, Dec. 4
By Khalid Kazimov – Trend:
Iran's Minister of Economic Affairs and Finance Masoud Karbassian has said that three insurance firms with state shares must be privatized.
Calling for privatization of insurance industry, he said the insurance firms Asia, Dena and Alborz must be privatized, rolling news channel IRINN reported.
The capital of Asia, Alborz and Dena over the last fiscal year (March 20, 2016-March 20, 2017) amounted to $71.8 million (2.3 trillion rials), $125 million (4 trillion rials) and $31.8 million (1 trillion rials), respectively.
The amount of earned premiums by the Iranian insurance industry indicated a surge of 22.6 percent over the last fiscal year.
According to the latest report by the industry regulator, the amount of total premiums collected by Iranian insurance companies over the last fiscal year reached $8.9 billion (280.1 trillion rials).