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State Insurer Still Dominates Market

State Insurer Still Dominates Market
State Insurer Still Dominates Market

Data published by the Central Insurance company of Iran (CII), the insurance industry regulator, show further increase in the share of private firms in the growing insurance market during the last fiscal year that ended in March.
CII numbers show that the Iran Insurance Company (IIC), the only state-owned player alone accounted for 31.9% of the total premium earning while the rest (69.1%) belonged to 30 private insurers. 
The IIC was the leading company also in terms of total payout accounting for 31.3% of the claims in the year.  
Insurance companies generated 115 trillion rials ($4.11 billion) in premium income last year, posting 41% y/y growth.

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