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CII Forecasts Rise in Premium Income

CII Forecasts Rise in Premium Income CII Forecasts Rise in Premium Income

The head of Central Insurance company of Iran, the regulator of the insurance industry, says insurers’ earnings from selling insurance policy will reach a record of 600 trillion rials ($5.3 billion) by the end of the current calendar year in March 2020. 
Iranian insurance companies generated 434.5 trillion rials ($3.8 billion based forex rates in the Tehran’s open market) in premiums during the last fiscal year (ended March 2019), according to the Gholamreza Soleimani.  
The industry made 265 trillion rials in premium during the first six months of the current calendar year, IRNA quoted him as saying.  
Third-party vehicle insurance and medical insurance, respectively accounted for 33.6% and 24% of the premiums, followed by life insurance (14.4%) and car body insurance (6.5).  

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