Top Insurer Reports 29% Growth in Q1

Iran Insurance Company, the largest and sole state-owned player in the domestic market, generated 47 trillion rials ($213 million) in premiums in the first three months of fiscal year (March 21- June 21) registering 29% growth year-on-year, the company CEO said. 
This is while its total payout amounted to 18.4 trillion rials ($83.6m), which was a meager increase of 2% compared with the same period last year, Mohammad Rezaei was quoted as saying by the company’s website. 
IIC recorded 10 percentage points decline in payout ratio, from 49% last year to 39% in the first quarter of current fiscal year.