Insurance Sector Growth Notable

Iran's insurance market logged noteworthy growth in the first 11 months of calendar year (ended Feb 19), with the total insurance premiums reaching 1,546 trillion ($3.09 billion). 
The y/y growth was 54.5%, according to the data published by the Central Insurance company of Iran (CII), the supervisory body of the industry. 
However, the performance of insurers was mixed. While some saw significant growth others declined. The overall growth rate in premium income was impressive, giving the impression that the key sector is poised for further growth. 
Decline in some sectors highlights the challenges that the industry faces, including the impact of sanctions and economic instability.