Business And Markets

Aircraft Insurance Shows Lowest Loss Ratio

Aircraft Insurance Shows Lowest Loss RatioAircraft Insurance Shows Lowest Loss Ratio

Despite risks associated with the country's air fleet, aircraft insurance coverage registered the lowest (18%) loss ratio in the industry' portfolio, allowing insurers to profit larger amounts from the premiums. 
Central Insurance company of Iran data show that insurers generated 2.78 trillion rials ($21 million) from plane insurance policies during the fiscal year that ended in March 2019 -- up 44% compared to the year before. 
Payouts by the insurance firms in this category totaled 665 billion rials ($5.1 million). The 40% growth in their paid losses is hardly a surprise given the age of the national air fleet, and the fact that new planes cannot be bought due to the US restrictions. 


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment