The Iranian insurance market worth 7.6 billion USD

The turnover of the Iranian insurance market attained 229 000 billion IRR (7.6 billion USD) during 2016 which ended in March 2016. Premium volume rose by 75% in comparison with the 2012/2013 year.

Insurance penetration rate earned 0.4 point at 2.1% during the first three years of Hassan Rouhani’s presidency (2013 to 2016). This rate is poised to keep rising until the end of next year.

The authorities are pressing Central Insurance of Iran (CII) with strong directives to raise penetration rate to 7% in 2022.

In late March 2016, life insurers posted a turnover of 27 600 billion IRR (914 million USD), which represents 12.1% of global premiums. This figure is 55% higher than the one reported three years earlier.

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