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How much will Iran’s insurance industry earn next year?

Business Materials 14 December 2017 18:04 (UTC +04:00)

Baku, Azerbaijan, Dec. 14

By Khalid Kazimov – Trend:

President Hassan Rouhani’s proposed budget for the next fiscal year (starting March 20) has forecast an income of 357.736 billion rials ($10.2 million) for the Central Insurance of Iran.

Rouhani proposed the draft budget back on Sunday under which the government’s general budget is estimated at 368 trillion tomans (about $105 billion according to the estimated USD rate in the draft), indicating an increase of 6 percent compared to the current year.

The amount of premiums earned by the Iranian insurance industry indicated a surge of 22.6 percent over the last fiscal year (started March 20).

According to the latest report by the industry regulator, the total premiums collected by Iranian insurance companies over the last fiscal year reached $8.9 billion (280.1 trillion rials).

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