Iran: Premiums surge 20% to $4.7 bln in 1H
Source: Middle East Insurance Review | Dec 2017
Iranian insurers’ premiums during the first half of the current fiscal year (which started on 21 March) reached IRR166 trillion (US$4.7 billion), representing an increase of 20% compared with the corresponding period of last year.
Of the total, life insurance policies sold were worth more than IRR22 trillion, up 35% y-o-y, reported the Financial Tribune citing the industry regulator, Central Insurance of Iran (CII).
The CII is promoting life insurance, and has been working on implementing structural changes in insurers’ reserves. It requires insurers to split their life and non-life reserves to enhance the efficiency of their investments. M
IRR1,000 = US$0.03