Business And Markets

Medical Insurance Facing Deficit

Medical Insurance Facing Deficit
Medical Insurance Facing Deficit

Latest figures released by the Central Insurance company of Iran, the supervisory authority of the industry, show the critical status of medical insurance with its loss ratio crossing 106% in the first ten months of the outgoing fiscal year that ends in March. 
Insurance companies generated 905 trillion rials ($3.14b) in premium during the ten months posting a growth of 37.5% compared to the same period of last year. Medical insurance accounted for 162 trillion rials ($611m) or 17.9% of the total premium, up 19.6%. 
During the said period companies sold 928,000 medical insurance policies, 177% higher than in the corresponding period last year. However, 172.3 trillion rials ($650m) was paid in claims in the medical insurance segment that was 82% higher on the previous year. 


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