Big Leap in Medical Insurance Industry

Medical insurance emerged as the main source of revenue for insurers in the first seven months of the current fiscal year (started late March 2022), out earning the lucrative third-party auto segment for the first time ever.
As per Central Insurance company of Iran data, insurance companies generated 310.3 trillion rials ($885.3 million) from medical insurance policies during the said period, registering a growth of 182.2% compared to the same period last year. 
Medical insurance accounted for 32.06% of the collective portfolio during the seven months over and above third-party auto insurance with 29.12% share. 
Growth in the normally laggard medical insurance category is said to be mostly because of two contracts signed by two private insurance companies earlier this year.