The Iranian insurance market

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Crédit photo: US Gov / CIA World Factbook

Insurance market features

  • Regulatory authority: Bimeh Markazi Iran
  • Premiums (2005): 2.366 billion USD
  • Insurance density (2005): 34.45 USD
  • Penetration rate (2005): 1.26%

Market structure in 2005

  • State-owned companies: 4
  • Private companies: 10
  • Reinsurance company: 1
  • General agents: 6 484
  • Brokers: 206

Identity

  • Area: 1 648 195 Km2
  • Population (2005): 68 668 433 inhabitants
  • GDP (2005): 187 billion USD
  • GDP per capita (2005): 8 158 USD
  • GDP growth rate (2005): 5.4%
  • Inflation rate (2005): 12.1%
  • Main economic sectors: oil, gas, textile

Major cities

(in number of inhabitants)
  • Tehran (capital): 7 314 000
  • Esfahan: 4 454 595
  • Shiraz: 4 385 869
 

Premiums split by class of business: 2003-2005

in USD
Classes2003200420052004/2005
growth rate
Fire
113 508 481151 939 490181 383 49019.37%
Marine
111 921100128 494 500103 774 200- 19.23%
Accident
97 413 038120 626 329124 802 7003.46%
Motor
777 330 5001 218 565 1001 371 660 20012.56%
Aviation
37 119 80036 079 30033 172 400- 8.05%
Engineering
34 214 30057 434 60049 458 400- 13.88%
Health
166 006 800161 126 300194 137 20020.48%
Miscellaneous
144 125 600183 158 300152 193 000- 16.90%
Non life total
1 481 639 6192 057 423 9192 210 581 5907.44%
Life
131 449 200134 680 200156 326 30016.07%
Grand Total
1 613 088 819 2 192 104 119 2 366 907 890 7.97%

Turnover split by class of business in 2005

Iranian insurance companies

 AddressWebsite
State-owned companies
Bimeh Iran
N° 107 Fatemi Ave, Tehran, Iran PO BOX: 14155-6363
Bimeh Asia
N° 299, Taleghani St, Tehran, Iran PO BOX: 15815-1885299
Bimeh Alborz
Gharani Ave, Tehran, Iran PO BOX : 15875-4489234
Bimeh Dana
N° 25, 15th St, Gandhi Ave, Tehran, Iran PO BOX: 11365-747325
Private companies
Day Insurance Company
N° 241 Mirdama Blvd, Tehran
The Expert & investment Insurance Company
N° 35 Haghani Blvd, Vanak Sq, Tehran, Iran PO BOX: 19395-631411.1
Bimeh Hafez
N° 47 (second floor) Sanai Sq, Hosseini St, Karim Zand Ave, Tehran, Iran
Karafarin
N° 9, 17th St, Alumad Ghasir Ave, Argentina Sq, Tehran, Iran
Mellat
N° 4, Chehelsotoon St, Fatemi Sq, Tehran, Iran
Omid
N° 58.3 Western Ghobadian St, Africa Blvd, Tehran, Iran PO BOX: 19689-36151
Razi
N° 80, Taleghani St, Tehran
Toseh-eh
N° 4, Haghani Expressway, Jahan-Koodak Crossroad Africa Ave, Tehran
Parsian Insurance Company
N° 3 Shahid Valinejad St, Off Vanak Sq, Valiasr Ave, Tehran, Iran
Sina Insurance Company
N° 343 Ave Beheshti, Tehran, Iran
Exchange rate
USD/IRR as at 31/12
2003
2004
2005
7900
7900
9085

Source: www.centinsur.ir
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Wed, 15/05/2013 - 15:22
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